This study explored farmers’ perceptions of a biosphere reserve in the Austrian Alps with the goal of promoting better understanding among different stakeholders involved in the agricultural sector in a biosphere reserve. Biosphere reserves have a variety of functions and serve as models of sustainable regional development and involve stakeholders in decision-making on and development of protected areas. In the Alpine biosphere reserve selected for this study, the conservation of cultural landscapes plays a major role; therefore, farmers feature prominently, and this study focuses on their points of view. Farmers rely heavily on natural resources, but structural changes in agriculture determine their work to a large degree, and they often refuse to support protected area management. This situation calls for a closer integration of social-scientific knowledge in regional development programs. Qualitative research methods based on grounded theory can help identify sources of conflict and social strengths. The study found substantial support for the reserve but also a noticeable lessening of the original excitement about it, pointing to the need for further outreach and to the importance, when establishing future reserves, of handling the start-up phase with heightened sensitivity.