Have you heard the news? According to the 2012 U.S. Census Bureau figures, Florida is now the fourth most populated state in the United States at 19.3 million people. Who knew? What’s more, the population growth rate is surmised to continue climbing at a lively rate, perhaps surpassing New York in populous by 2016.
But why is Florida agriculture booming in light of this population increase? Isn’t farmland shrinking in size due to increased population and development?
Yes, it is true. Agricultural land in Florida has reduced in size, but maybe not as much as you think. In fact, Florida is still rich in agricultural and rural areas. Sure, you might have to get off the beaten path to realize the abundance of land, but it is most definitely out there and ready to be utilized.
Why the high agricultural land demand?
Agricultural and rural land is still going strong in Florida, even better than expected, because the economic strength and value of the sector promotes its continued strength and success. The demand is currently there and will realize even greater strength and value as Florida’s population expands and there’s more hungry mouths to feed.
While the agricultural land itself might be consolidating and shrinking, its value is not. In fact, more than ever, agriculture is becoming an industry of great importance for future survival. The industry is at a turning point. Urban farming is becoming a thing of the future. Great change in the agricultural industry is on the horizon.
Are you considering purchasing agricultural land in Florida? Contact Bankers South Lending and Financing, LLC to discuss your Florida farmland financing options. We provide Florida producers and growers a variety of loan products, including conventional agricultural real estate loans.