Things are looking up for Florida agricultural according to a recent study conducted by the UF’s Food and Resource Economics Department. Combining agricultural, natural resources, and associated food industries, the state brought in an impressive $104 billion in 2011 according to this economic study. Since then, Florida’s agricultural impact has only continued to increase and strengthen.
Which industries are responsible for this positive impact?
Agricultural industries including crop, livestock, forestry, and fisheries production; agricultural product and service providers; food product manufacturing; forest product manufacturing; food distribution; mining; and nature-based recreation are all responsible for Florida’s agricultural turn around.
What’s more, this economic contribution from Florida’s agricultural industries is greatly fueling the job sector. Approximately 2 million full-time and part-time employees in the agricultural sector were accounted for in 2011. This number accounted for 20% of all jobs in Florida state. From 2010 to 2011, the number of employment opportunities in the Florida state agricultural industry increased by 4.4% – a promising increase.
This study paints an overall promising picture of what’s currently going on in Florida’s agricultural and economic climate. All signs point to an effective recovery from the 2008 recession (a very low point) and the continuation of agricultural growth and strength.
Now that Florida’s agricultural industries are once again stable and expanding strong, it follows that now is a good economic climate to tap into the industry, especially the industries that are really generating a positive impact (see above).
If you are interested in purchasing or re-financing agricultural land in Florida, contact Bankers South Lending & Financing for information on our variety of farm loans and agricultural financing options. We want to support your Florida-based agricultural operation and facilitate its continued growth and success.