By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Investors are planning to inject $2 million in start-up capital into an Abaco-based soybean, corn and dairy cattle farming venture that could create some 30 jobs.

Haziel McDonald, and long-time friend and Nebraska farmer, Jeff Larson of Larson & Larson Farms, have entered into a joint venture to head Caribe Farms. The company recently signed a 21-year lease agreement with the Bahamas Agricultural and Industrial Corporation (BAIC) for 2,000 acres of land in Spring City Abaco.

Mr McDonald yesterday told Tribune Business that Caribe Farms was looking to start clearing the land and bring in equipment near the end of June 2014.

“Soybean will be our first crop and afterwards we will move to corn,” he said. “We’re looking at about 800 acres for the first planting of soybean. Corn would come pretty much once we get the soybean in the ground.

“We will start working on another 500-600 acres of corn. We will also look to raise cattle, an extensive amount of cattle. We want to produce beef to supply to the country.”

Mr McDonald estimated that 15 workers would be employed in the company’s slaughter house alone. “We look to employ around 15 or 16 people in the slaughter house. We may start off with 12-15 employees on day one but that will grow. Two to three years in, you will have 30 something employees,” he added.

“Some time in the month of June we would begin to bring in some equipment and get people to work in clearing the land and get people prepared to plant. We want to say that before the end of June we will get the ball rolling.”

Mr McDonald estimated that around $2 million would be invested at the outset for the company to get the necessary equipment in place, with the total investment in the entire projects set to exceed that significantly. He was unable to put an exact figure on that at this time.

“We are going to be utilising modern technology. Nearly everything is going to be machine-driven. We have put a lot of research into this. The project will be done in stages. I think in three years we will get to where we will be able to start producing beef for the country. We’re very confident about the project. Mr Larson, who also happens to be a very good friend of mine has been in the farming business, all of his life,” said Mr McDonald.