ENFIELD, Conn. — In honor of National Ag Day on March 21, Farm Credit East salutes the contributions of Northeast producers. Unrivaled in its diversity and consumer focus, the Northeast agriculture, commercial fishing and forest products industries contribute more than $103 billion in economic activities and generate 483,375 jobs throughout New England, New York and New Jersey.
The region’s major industries – dairy, greenhouse, nursery, fruit, vegetable and others – operate more than 12 million acres and, when combined with its related processing and support industries, are responsible for $72.8 billion in economic impact. Forest products industries generate a $25.5 billion economic impact and commercial fishing and related processing contribute $5.2 billion to the economy. This diverse product mix provides consumers with an abundance of fresh, safe and local products year round.
Farm Credit East’s Knowledge Exchange report, Northeast Economic Engine, quantifies the economic impacts of these industries by state, as well as the region as a whole. The report considers three levels of impact. Starting at the farm, forest or dock, $12.6 billion in economic activity is generated and more than 150,000 jobs are supported. Add input suppliers and service providers and this impact grows to $21.6 billion in economic activity and 219,000 jobs. Include processing and marketing activities, and altogether these activities create $103.4 billion in economic impact and support 483,375 jobs throughout the region.
“The Northeast is fortunate to have strong diversity of agricultural, commercial fishing and forest products, and all are important contributors to the Northeast economy,” said Bill Lipinski, Farm Credit East CEO.
“Not only are these industries important to rural communities, but many of their related processing and marketing activities also create jobs in urban areas,” Lipinski continued. “Additionally, our proximity to population centers gives producers access to additional markets and offers urban consumers access to a fresh, safe, affordable food supply.”
To view the full report, Northeast Economic Engine, and for more information on the economic impact of Northeast agriculture, commercial fishing and forest products, visit FarmCreditEast.com.
—Farm Credit East
For more articles concerning the economy, click here.