Center to study farmland finance
The University of Illinois is starting a new center to study the financial aspects of farm land.
University trustees voted Thursday (March 7) to create the TIAA-CREF Center for Farmland Research. TIAA-CREF is a financial services company and is spending $5 million a year for three years to pay for the new center, which is expected to sustain itself financially after that.
Steadily rising prices have made farm land an increasingly popular investment in recent years. Those prices have also increased the value of many farmers' assets while at the same time making it harder for some to add acreage or for young farmers to get started.