To bolster the nation’s agricultural sector, Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the U.S., in conjunction with the Tractor Supply Foundation, has announced a partnership with the American Farmland Trust (AFT). The partnership offers farmers the opportunity to apply for one of 85 grants to improve the sustainability and viability of their farms.
The application window is open from now through July 15, with each grant totaling $10,000. Interested farmers can apply at the AFT’s website, with grant winners expected to be announced by late September. The grants aim to enhance farm viability, facilitate farmland access, and promote adopting regenerative agricultural practices.
The AFT reports that 40% of American farmland is owned by individuals aged 65 and above, with the number of young farmers and ranchers continually decreasing. Over the next decade and a half, approximately one-third of America’s farmland and ranchland is projected to change hands due to aging landowners selling their properties. These lands are most at risk of being converted for non-agricultural uses upon sale, thereby underscoring the urgency of this initiative.
As part of Tractor Supply Company’s 85th-anniversary celebration, an $850,000 donation has been made to the AFT’s Brighter Future Fund. This donation marks the company’s most significant contribution to AFT thus far, highlighting the ongoing commitment to supporting this critical sector. The funds will be disbursed as 85 grants, each amounting to $10,000.
These grants are designed to support underserved farmers and those lacking access to traditional funding sources. They offer a flexible financial solution that could make a significant difference for struggling or part-time farmers in their quest to become land stewards.
Tractor Supply Company has consistently expressed its commitment to America’s farmers as part of its core focus pillars of corporate giving. Other pillars include supporting education, pets and companion animals, land and nature conservation, and community outreach. This grant program represents a significant step in ensuring the sustainable future of American farming.
Image provided by Tractor Supply