The production guide is used by growers and potential investors as a guide to establish vineyards. The guide communicates the considerable investment required and the potential returns. Growers use the financial information as a guide for their own financial projections of the cost of establishiing a vineyard, and vinifera vineyard, and for preparing business plans to present to agricultural lenders and potential investors. In some cases growers decide not to make the investment. In any case, they are well informed about the financial commitment involved in establishing a vineyard.
impact statement issue
Many NY grape growers and also investors in upstate NY are interested in establishing vinifera vineyards. The costs of establishment are substantial (more than $15K per acre), and several years are required before the investment is recovered. The Finger Lakes Region of NY is attracting attention for its vinifera wines, and is becoming known nationally and internationally for its vinifera wines, particularly for Riesling.
impact statement response
The bulletin we develop is used as a guide for producers and investors about the costs, returns, the capital required, and potential profits associated with investment in a vinifera vineyard.
The target audience is grape growers and potential investors in the Finger Lakes Region. However, the resource we develop is on the AEM Department web site, and is accessed nationally as well as internationally. Results have been communicated to audiences in the Finger Lakes Region (NY), the Lake Erie Region (NY and PA), MI, and MD.
impact statement summary
We conduct a study at approximately three-year intervals to estimate the cost of establishing and producing vinifera grapes in Western NY, specifically the Finger Lakes region. A panel of vinifera producers is assembled to assist in providing estimates of the operations involved in establishing a vinifera vineyard in the Finger Lakes, the cost of establishment of the vineyard, and expected returns over the projected 25-year life of the investment.
