03-26-2024, 01:14 PM
(03-26-2024, 12:10 PM)Rainrider22 Wrote: I don't like to see us lose prime farming land. You say just 6 family farms but you need to look at the acreage and just how much commodities those 700 acres produce. Average yield of soybeans per acre is 4 to 5 tons. Of course it is dependent on soil and weather but typically the land in our region produces high yields because it is of good quality soil. That is a lot of good quality acres you are loosing. All that being said, I agree, it is hard to turn down a great opportunity to create a lot of good jobs that would be good pay with benefits. Plus add on the spin off economy that is created to support a large mfging site. For me as long as the owners are paid a fair market value on the land, then I can support the overall case.
I get it the point about losing farmland sucks, but I feel the Region has done a pretty good job at protecting farmland and accommodating a factory of this size will not change the regions mandate to protect Agricultural land. People act like there is just 700 acres of industrial land waiting for development. There isn't which is why we need to assembly the land.
My understanding is they have been offered 35k per acre. FMV currently is 25-35k per acre in waterloo region. I think through arbitration/ expropriation they will probably see closer to 50k per acre, which is more than fair. Those that want to continue to farm would be able to buy a farm with 3-5 million they will receive. I know they are trying (and achieving) at getting the public opinion on their side, some have even suggest they recieve FMV of the land as if it were zoned for industrial, which would be close to 500k per acres.
I really hope our elected officials don't fumble this one due to public pressure, if this actually a large factory like honda or Toyota, the economical spin off will be huge. Hundreds of part manufacturers will spring up in the area to support the factory. Similar to what we have seen with Toyota the past 50 years.