As an older generation retires, a younger generation enters the Iowa wine industry.

New generation wineries were established throughout Iowa in the early 2000s. Michael White is Viticulture Specialist with Iowa State University Extension and Outreach. White says as the older generation leaves the industry, the younger generation moves in. However, the young generation often struggles in doing so.

“Many of them don’t have the cash assets like the older generation, who were nearing retirement and had excess cash,” White said. “The new generation is more professional. They have to look at cash flow, make sure the bottom line is met and please the banker.”

Start-up costs for a winery range from $8,000 to $10,000. Those costs include labor, land and all other expenses for the first three years.

Read the full article on the Iowa Agribusiness Radio Network.