The Economic Importance of Food and Fiber

Transcription

1 The Economic Importance of Food and Fiber A Spotlight on Taylor County, Georgia Prepared for: Taylor County Cooperative Extension October, 26 by: The Center for Agribusiness and Economic Development College of Agricultural and Environmental Sciences The University of Georgia

2 Agriculture in Georgia Georgia's 25 Farm Gate Value was $1.6 billion. Adding the value of landscape services increased the total agricultural production value to $12.3 billion. Total food and fiber production and directly related businesses account for a $52.7 billion output impact on Georgia's $614 billion economy.

3 Production Agriculture: 25 Georgia Total Agricultural Production Value $12.3 Billion Landscape services 14.% Poultry & Eggs 36.7% Other Income 5.4% Fruits & Nuts 2.2% Forestry & Products 5.7% Ornamental Horticulture 7.3% Vegetables 5.2% Livestock & Aquaculture 1.6% Row & Forage Crops 13.% $ - $2 $2 - $45 $45 - $8 $8 - $2 $2 - $ Farm Gate Value by County in Millions of Dollars

4 What We Know about Taylor County 25 Farm Gate Value in Taylor Co. was $43.1 million. Adding $4.1 million of landscape services increased the total agricultural production value to $47.2 million. The highest value commodity group was poultry/eggs, representing 39.4% of the total agricultural production value.

5 Taylor County 25 Agricultural Production Value Orn Hort 4.% Vegetables 2.4% 25 Agricultural Production Fruits-Nuts 7.% Other 11.5% Landscape services 8.7% Watermelon 2.1% Turfgrass 3.2% 25 Top Farm Gate Commodities Layers 1.7% Hay 1.% Rest of Commodities 11.8% Broilers 41.4% Forestry 8.2% Livestock- Aquaculture 8.3% Row-Forage crops 1.5% Poultry-Eggs 39.4% Peaches 7.2% Beef 7.4% Cotton 7.5% Hunting Leases 7.9% Timber 8.7% Total AG Value = $47.2 million

6 Trends in Taylor County: Number of Farms & Average Farm Size Number of Farms, Taylor County Average Farm Size R Source: (quinquennial) Censuses of Agriculture Acres Taylor Co. Georgia R

7 Trends in Taylor County: Land in Farms & Farms by Size Acres X 1, Land in Farms Taylor County R 22 Source: (quinquennial) Censuses of Agriculture Percent of Farms by Size, acres 1-49 acres Taylor Co acres acres Georgia acres 1+ acres

8 Trends in Taylor County Number of Farms by Commodity Cattle and Calves Inv Broilers and Other Chickens Sold Cotton Hay Source: (quinquennial) Censuses of Agriculture

9 How Do We Compare? Georgia, X and Surrounding Counties Farm Gate Value $ Per Farm (thousands) $ Per Acre $1,6 $1,4 $1,2 $1, $8 $6 $4 $2 $ $985 $578 $1,87 $215 $19 $232 $1,435 $456 $749 $1,18 $741 $262 $716 $214 $182 $228 $74 $115 Georgia Taylor Crawford Macon Marion Peach Schley Talbot Upson Sources: 22 Census of Agriculture and 25 Farm Gate Value Report

10 What We Did The Center for Agribusiness and Economic Development performed an analysis of the county s economy, focusing on the role of food and fiber.

11 What We Asked County Economy Modeled How much of the county s total current economic output comes from food and fiber production and directly related processing? (A Snapshot of the Economy) What is the total (direct and indirect) Impact of food and fiber production and directly related industries?

12 Agriculture Mining Construction Manufacturing Trans-Utilities-Info Trade Finance-Ins-RE Services Government Taylor County Economy Agriculture OUTPUT Output in $ Millions Total County Economic Output = $32.9 million Percent

13 Taylor County Economy Agriculture + Directly Related Businesses OUTPUT Agriculture + Direct Mining Construction Manufacturing Trans-Utilities-Info Trade Finance-Ins-RE Services Government Output in $ Millions Total County Economic Output = $32.9 million Percent

14 An Economic Snapshot of Taylor County How much of Taylor County s total economic output comes from food and fiber production? AG value alone of $47.2 million consisting of Farm Gate Value and landscape services comprises 15.6% of the county s economy. AG plus directly related businesses (ex. logging, ag support services) comprise 19.3% of the county s economy.

15 Food and Fiber Production, Processing and Direct Manufacturing as % of Total Output - 1% 1-2% 2-4% 4-6% 6-84% Taylor Co. 19.3%

16 What is the Impact? What is the total (direct and indirect) impact of food and fiber production and directly related industries? This scenario illustrates how other industries are affected by the presence of food and fiber in the county. The indirect impacts measure output created due to food and fiber production and processing in the county.

17 What Impact Means: A Brief Explanation The impact numbers capture the ripple effects that food and fiber create in the county s economy. Many other sectors rely in part on the existence of food and fiber for sales. Labor Seed Utilities

18 Agriculture Mining Construction Manufacturing Trans-Utilities-Info Trade Finance-Ins-RE Services Government Total Taylor County Agriculture IMPACT Direct $ Millions Indirect $ Millions Total Impact of Production AG=$56.7 million 18.7% of total economy

19 Taylor County Production Agriculture + Directly Related Businesses IMPACT Direct $ Millions Indirect $ Millions Agriculture + Direct Mining. Construction.67 Manufacturing.25 Trans-Utilities-Info Trade 1.81 Finance-Ins-RE 1.26 Services Government 2.68 Total Total Impact of AG + Directly Related = $69.7 million--23% of total economy

20 Taylor County Production Agriculture + Directly Related Industries Employment IMPACT Agriculture + Direct Mining Construction Manufacturing Trans-Utilities-Info Trade Finance-Ins-RE Services Government Direct 728 Total Impact of AG + Directly Related Employment = 842 Jobs Indirect

21 What These Numbers Mean: A Brief Explanation Direct impact is $58.5 million. This includes food and fiber production, processing and directly related manufacturing. Indirect impact from the Trade sector is $1.8 million. This captures the effects of farmers (direct source) buying supplies (seed, fertilizer, work boots) from local stores. These stores must increase their output to meet farmer demand.

22 What These Numbers Mean: A Brief Explanation (continued) As local stores increase their output, they may demand more stock from local wholesalers (also in the Trade sector). Local wholesalers demand more from local manufacturers, thus increasing activity in the Manufacturing sector. Local stores also hire employees to assist farmers. They take home wages and buy groceries at the local store which increases demand there.

23 Taylor County Food and Fiber Impact Conclusions The total impact of food and fiber production, processing and direct manufacturing is $69.7 million. The total output is $32.9 million. Thus, food and fiber (directly and indirectly) account for 23% of the total output.

24 Food and Fiber Production, Processing and Direct Manufacturing Impact as % of Total Output - 1% 1-2% 2-4% 4-6% 6-1% Taylor Co. 23%

25 Contact Information Prepared by: Sue Boatright and Archie Flanders Center for Agribusiness & Economic Development Adding Value to Georgia's Agricultural Economy Through Research and Extension To learn more about your county, go to: on Georgia Statistics System Special County Area Report #6-22A October, 26