The Ontario government is giving investors the green light to buy up more than 50 million acres of farmland in Ontario and neighbouring Quebec, as it pushes to revitalise a city that’s been the biggest beneficiary of its agricultural exports.
The Ontario government has released its long-awaited farm plan for the province, which sets out how much farmland it will buy and how it will manage its holdings, in a move that will ensure the province has plenty of farmland to buy as it tries to revitalize the region.
Ontario will buy up farmland in and around Montreal, a suburb of Ottawa and two rural towns in the Montreal area, as well as in Brampton, Ottawa’s largest city, and Windsor.
The province also plans to purchase more than 60,000 hectares of farmland along the Quebec border, where its agricultural products are sold.
Ontarians who want to buy farmland will need to have at least a net worth of $1 million to qualify for the deal.
The province is also set to sell land in the province’s far north, a region where farmers traditionally grow a broad range of crops including wheat, rice and soybeans.
The plan will also include selling land in and near the northern tip of Ontario to people with a net-worth of $5 million or more, or $15 million for a family of four.
It will be the first time the province will sell farmland in the region outside of Montreal, according to the government.
The land will be sold in the coming years, the government said.
Ontarios farm plan includes $100 million to purchase land for farming, research and development and infrastructure development, along with a new research centre.
The government is also creating an Office of Agriculture and Food Research to provide new ideas and advice to improve the quality of agricultural production.