One Investment Firm's Bold Experiment to Finance the Future of American Farming

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Farmland LP, based near San Francisco, says it is working to make more organic acreage available at a time when land for farming and ranching is vanishing nationwide.

he Dwelley family has farmed the fields of Brentwood, Calif., for a century, growing organic sweet corn, cherry trees, and low, leafy green beans some 50 miles east of San Francisco.

“For my sake, I hope to be farming until I’m a ripe old age,” says the 36-year-old, “so I want to make sure that we’re setting ourselves up for long-term success.” Today the family leases hundreds of acres from Farmland LP on top of the other acreage it owns or leases.

Farmland LP is far from the only private firm betting on America’s fields and pastures. Despite the financial precariousness farmers face, land itself is an increasingly attractive asset. Prominent billionaires like Bill Gates and Ted Turner are among the largest owners of U.S. farmland. Institutional investors, wealth advisory firms, and individuals are claiming shares of arable land. Unlike the U.S.

Last summer, after a farmworker from Guatemala died in Oregon’s heat wave, state officials adopted emergency protections for laborers. As temperatures topped 100°F—an extreme event exacerbated by climate change—farmworkers in the Pacific Northwest were still picking cherries, berries, and grapes without access to shade or cool drinking water, according to farmworker unions.

Since organic farmers can’t deter insects or rodents with chemical pesticides, they have to find more natural solutions. “It isn’t as simple as just calling your pest manager out to shoot some chemicals,” Savage says. To curb infestations of moles, which dig deep underground tunnels, his team built raptor perches and owl boxes to attract predators.

 

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