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Political Science News

Free Farm Succession Planning Workshop Offered on March 10 in Athens

Posted Mar. 2, 2011

The Ohio Employee Ownership Center at Kent State University is offering a workshop on March 10 for farmers and agricultural business owners looking to explore a business succession plan. The workshop is being presented in conjunction with the Ohio Small Business Development Center, AgCredit, Braintree Business Development Center and the Ohio Department of Development.

“It is well-known that agriculture makes a major impact in Ohio,” said Roy Messing, program coordinator at Kent State’s Ohio Employee Ownership Center. “In fact, agriculture is the number one contributor to Ohio’s economy, with an impact of $98 billion. Farming provides nearly one million jobs, or about one out of every seven jobs in Ohio.”

To help the future of the agriculture industry, “An Introduction to Farm Succession Planning” workshop has been scheduled for farmers and other small agricultural businesses that want to explore transferring ownership to the next generation.

The workshop is scheduled for Thursday, March 10, from 9 a.m. to 12 p.m. at the Ohio University Innovation Center, 340 West State St., Athens, Ohio. The workshop is open to anyone, including farmers, small business owners, business and financial consultants, bankers and economic development professionals.

The workshop will address the following topics:
• Is the farm or business transferable?
• Who will be the next generation of owners?
• What is the valuation of the farm or business?
• What resources are available for family businesses?
• What are the legal and tax consequences that I need to be aware of?
• What timetable makes sense for succession planning?

The session will include networking opportunities and light refreshments will be served. There is no cost for the workshop but advance registration is preferred. To register or obtain more information, contact Roy Messing or Ashley Hernandez at 330-672-3028, rmessin2@kent.edu or ahernan7@kent.edu.

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Media Contacts:
Roy Messing, rmessin2@kent.edu, 330-672-3028
Bob Burford, rburford@kent.edu, 330-672-8516