Agriculture as Economic Development through Rural-Urban Partnerships

American Farmland Trust Report Spells out Opportunities in Local Food Production

Gives stakeholders an action plan to move forward

• 898,000 + acres of farmland

• 5,536 individual farms

• $810 million region-wide farm gross economic impact

• $650+ million in sales at farm gate

• $25 million in direct sales

Measuring Unmet Demand

New York State Unmet Demand Hudson Valley Unmet Demand

Source: New Venture Advisors LLC, http://newventureadvisors.net

Hudson Valley

2012 2007 2002 1997 1992 1987

Farms 5,536 5,628 5,819 4,795 5,073 5,707

Farm Acreage

898,014 898,657 1,004,132 926,827 1,036,060 1,083,511

Avg Farm Acreage

147.6 145.3 160.8 165.1 180.8 173.2

Value of Product ($1,000)

$651,828 *$549,879 $410,630 $416,274 $398,931 $394,546

Average Per Farm

$104,514.7 *$88,954.4 $67,251.1 $82,822 $74,455.5 $58,730.8

Hudson Valley 2012 2007

Total Number of Farms

5,536 5,628

Total Farm Acreage 898,014 898,657

Average Farm Acreage

147.6 145.3

Market Value of Ag Products Sold

$651,828,000 **$549,879,000

Average Per Farm $104,514.7 **$88,954.4

The Hudson Valley and surrounding region lost 92 farms and 643 acres of farmland since 2007.

Agribusiness effects urban and rural communities

• Agriculture alone represents only 1% of U.S. GDP

• However, Agriculture in combination with entire Producer, Processor to Retail Food Establishment contributes 16% of U.S. GDP

• 17% of U.S Workforce is employed in agriculture related field

• $87 billion in net farm income

• An agricultural cluster includes the food supply chain (raw production, distribution, processing), forestry products, biofuels, alternative energy, and heavy equipment