Farming seems to be an older person’s game, and new research shows that can lead to financial trouble.
Norm Walzer of the Illinois Institute for Rural Affairs the concern is that dollars could be leaving the state.
“We found $182 billion in wealth will be transferred in Illinois between 2005 and 2015, and $23 billion of that would be in rural counties,” Walzer told members of the Governor’s Rural Affairs Council. “The issue then is: what mechanism could be set up so that some of that wealth doesn’t go to children in Florida or California or other places when, in fact, the farm gets sold?”
Walzer says retention is a concern – somehow encouraging younger and older Illinoisans to stick around in the first place would be a good idea.