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N.C. ag brings $77 billion to state
Story Date: 4/22/2013
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Source: Dr. Mike Walden, NCSU COLLEGE OF AG & LIFE SCIENCES, 4/13/13
Agriculture and agribusiness account for almost one-fifth of the state’s income and employees, according to a recent report released by NCSU College of Ag & Life Sciences economist Dr. Mike Walden. More than 17 percent, or $77 billion, of the $440 billion gross state product is contributed by food, fiber, and forestry industries. These industries account for 642,000 of the state’s 3.8 million employees. The following are the value-added incomes derived from the state’s agricultural sector for 2011. Note that the figures reflect value-added income for 2011. At the farm level, value added is sales.
At the manufacturing, wholesale, and retail levels, value added is sales minus the cost of non-labor inputs. For agriculture/food Industries, total income equals $67.4 billion, accounting for 15.3% of N.C.’s income. For natural fiber Industries, total income equals $4.0 billion, accounting for 0.9% of N.C.’s income. For forestry Industries, total income equals $5.6 billion, accounting for 1.3% of N.C.’s income.
To read the full report, click here to and choose “State Agribusiness Value”.
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