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Monsanto Hawaii enters land lease for long-term agricultural use on Molokai
(March 23, 2007) - Monsanto Hawaii has entered into a 99-year lease for three agricultural land parcels owned by Molokai Properties Limited (MPL). Monsanto Hawaii intends to keep the land in long-term agricultural production.
While the total acreage involved is approximately 1,650 acres, about 1,200 are suitable for farming. The company expects the remaining area, some 450 acres, will remain as open space permanently. Of the portion that is arable, Monsanto Hawaii had already been leasing 700 acres for their seed operations.
"This long-term land lease reflects Monsanto's commitment to Hawaii and to agriculture," said Ray Foster, manager of Monsanto's Molokai farm, formerly known as Hawaiian Research. "This agreement will help ensure that these lands will remain in productive agricultural use and open space."
The land parcels involved were previously used to grow pineapple. Since the departure of the pineapple industry from Molokai, the area has either lain fallow or has been used to farm other crops.
MPL chief executive Peter Nicholas said he was extremely pleased that the land would be returned to productive agriculture and confirmed that Monsanto Hawaii has agreed to agricultural easements on the leased land. This is in line with the Community-Based Land Use Master Plan for Molokai Ranch that was affirmed by the Molokai Enterprise Community, he said.
"Monsanto has always been a good neighbor and provides much needed jobs for our community. We believe this will be tremendous for the island," said Nicholas.
It is anticipated that the transaction will have a positive impact on Molokai employment
opportunities. Monsanto Hawaii currently employs approximately 110 full-time and
80 seasonal employees on Molokai, as well as approximately 600 full-time and 100
seasonal employees statewide. The company has been actively seeking seasonal employees
and encouraging interested job seekers to apply for positions.
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