(WBNG Binghamton) Norwich, NY For six generations, John Marshman and his family have taken care of their farm in the Town of Oxford.
After the Development Chenango Corporation announced a new loan fund Friday, he and is brother may be able to invest in their more than 150-year-old dairy farm.
"Between our equipment, our land base, and our animals, we have a lot of capital invested," said John Marshman, co-owner of Marshman Farms, "And so the ability to get capital in different ways is important."
The $250,000 loan program will help farmers buy new equipment, said county officials. Some may even be used to buy new properties.
Bradd Vickers, president of the Chenango County Farm Bureau, said the money will help secure the county's number one industry. Vickers said that's an important goal.
"Unlike any other industry, once that farm is sold and subdivided that's it. Period. End of sentence," said Vickers.
The loan funds are made possible by Chenango's newest industry. yogurt.
The money was originally loaned to Chobani six years ago as part of a state grant by the New York State Office of Community Renewal.
As Chobani develops into a multi-billion dollar business, it's paying back.
"And also share this success and make them understand it's their success too," said Hamdi Ulukaya, President and CEO of Chobani, "And I know that they feel it."
Farmers like Marshman say Chobani is setting the right example.
"We feel that in order for our industry to stay solvent in the northeast," said Marshman, "We have to work together, understand what each others needs for, and try to help it so that everybody wins."
For farmers in Chenango County, success breeds success.