Pioneer Hi-Bred and Farm Journal Media Announce Industry-Wide Succession Planning Initiative
(January 12, 2010) Pioneer Hi-Bred, a DuPont business, and Farm Journal Media announced a multi-year sponsorship to support the Farm Journal Legacy Project in addressing succession planning for the largest transfer of farm wealth in American history.
"The median age of the U.S. farmer today is 58 years, yet only 20 percent of farmers report being confident in succession plans for their businesses while 80% plan to transition it to the next generation," explained Andy Weber, president and CEO of Farm Journal Media. "The need for succession education and tools cannot be overstated in its importance to individual farm families of this country and to the long-term viability of the U.S. agricultural system as a whole. There is nothing more core to sustainability in agriculture than the ability to provide succession to the next generation."
The sponsorship from Pioneer Hi-Bred will enable Farm Journal to expand upon its initial editorial commitment to raise awareness surrounding legacy planning and will kick off the single largest industry initiative of its kind in agriculture today.
"Pioneer recognizes the future of the industry it serves is dependent upon successful transition of
America’s farm businesses from one generation to the next," Frank Ross, Pioneer vice president and regional director - North America, said of his organization’s support of the Legacy Project. "With this in mind, Pioneer provides this sponsorship and joins the Legacy Project’s long-term commitment to cultivate multigenerational success for growers and production agriculture."
The Legacy Project will include:
- Hands-on training workshops with succession planning expert Kevin Spafford, author of Legacy by Design: Succession Planning for Agribusiness Owners. Spafford, a certified financial planner, owns Legacy by Design, a firm that guides farmers and agribusiness owners through the succession planning process;
- Extensive editorial coverage in FARM JOURNAL, TOP PRODUCER and DAIRY TODAY magazines, on the "AgDay" and "U.S. Farm Report" TV shows and AgWeb.com, with case studies and comprehensive coverage;
- A special issue of FARM JOURNAL magazine dedicated exclusively to the topic;
- Specific training and tools at www.farmjournallegacyproject.com;
- A monthly Legacy television show; and
- A weekly eNewsletter.
Throughout the years, the Legacy Project will chronicle three farm families selected from hundreds of applicants as they work through the real-world process of succession planning and land transfer.This pledge by Pioneer to the Legacy Project represents a continuation of its decades-long support forNorth American growers and their business success through its products, services and financial commitments to agriculture.
Farm Journal Media is the nation’s leading agricultural media company. Its magazines are the 133-yearold flagship FARM JOURNAL, as well as TOP PRODUCER, BEEF TODAY, DAIRY TODAY and IMPLEMENT & TRACTOR. The company produces two national television programs, "AgDay" and "U.S. Farm Report." Its Web sites include the nation’s leading agricultural portal, AgWeb.com, and the most comprehensive farm equipment site, MyMachinery.com. Farm Journal Media also publishes the Pro Farmer family of newsletters, produces numerous live events, offers custom publishing services and provides extensive database services.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere.
Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.