Researchers complete study on agricultural economic contributions to North Dakota

NDSU researchers just lately accomplished an inaugural examine on the financial contributions of agriculture to the state of North Dakota. Outcomes present a contribution of practically $31 billion to the financial system and greater than 110,000 jobs.

The NDSU Division of Agribusiness and Utilized Economics and the NDSU Heart for Social Analysis partnered to seize the financial contributions of all segments of agriculture in a single, complete evaluation.

“This examination is the primary time that agriculture has been broadly outlined to incorporate all facets of the business,” mentioned Nancy Hodur, director for the NDSU Heart for Social Analysis. “Previous research seemed solely at a single section of agriculture, resembling a person commodity.”

“Agriculture in North Dakota is far more than farm manufacturing and consists of dealing with, transportation, processing and manufacturing,” mentioned Dean Bangsund, NDSU analysis scientist within the Division of Agribusiness and Utilized Economics. “When all of agriculture is mixed, its influence is critical.”

Key knowledge from the examine present that:

• Agriculture represents 20% to 25% of the state’s financial system.
• The entire financial contribution is $30.8 billion.
• 1 out of each 5 jobs within the state is supported by agriculture.
• Of the 110,480 agriculture-related jobs within the state, about 43,000 jobs are concerned instantly in agricultural manufacturing and processing, and about 67,400 jobs are required to help the agriculture business.
• Labor revenue for agriculture-related jobs is $7 billion.

“The info exhibits that agriculture’s influence is much broader than farms and rural communities,” Hodur mentioned. “This examine demonstrates the breadth of agriculture and its significance to not solely rural North Dakota however your complete state.”

“Agriculture is crucial to North Dakota’s financial system and is a driver of financial exercise in all 53 counties,” Greg Lardy, vp for Agricultural Affairs at NDSU, mentioned. “This examine offers the baseline knowledge wanted to assist transfer the business ahead. Because the state provides further value-added processing capability, the financial contribution of agriculture will proceed to develop.”