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The massive $787 billion American Recovery and Reinvestment Act of 2009 (ARRA) signed into law on February 17, 2009 provides $288 billion in tax relief for individuals and businesses. Two-thirds of the $787 billion is focused on government spending initiatives intended to create jobs and to jump-start the economy. Specific details of this 1,071 page law are limited. Taxpayers should become familiar with the tax saving provisions provided by this new law, to plan to take advantage of the provisions. This attachment highlights some of the more prominent tax saving provisions for businesses and individuals.

Fluctuating energy prices, variable food prices, global climate change, trouble in suburbia, economic troubles, food safety and many other drivers are leading to big changes in food production and distribution. Because of these tumultuous conditions, many Texas consumers, farmers, ranchers and agribusiness professionals are seeking creative ways to deal with the risks and the financial challenges.

With the challenges of the market place, Texas farmers and ranchers are exploring a wide range of possibilities in diversifying their operations - Should the land be put to recreational use through hunting, fishing, or birding? What about a “new” crop such as berries or lavender or a valued-added venture such as artesian cheese or B&B? And that’s the target of the Increasing Profits and Managing Risks in Rural Ag Businesses Workshops TBD. Contact Ashley Lovell @ the address below, if you wish to schedule a workshop and/or to co-sponsor a workshop.

These programs will assist participants to:

• Identify ways to diversify local economy and increase employment
• Assess requirements to make production economically rewarding for farmers and consumers in both rural and urban settings
• Help rural Texans develop new businesses and grow existing ones
• Improve understanding of business planning and marketing
• Provide education and assistance in financial, legal, human and personal risk management, and business plans
• Provide technical support for rural entrepreneurs and agribusiness
• Create support networks for rural business owners

Anyone who wants to learn more about Increasing Profits and Managing Risks in Rural Ag Businesses and rural business opportunities is invited to attend. “This material is based upon work supported by USDA/CSREES Award Number 2004-49200-03126.”