Agricultural Economics Resources
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AP 129-1
2023 Ag Snapshots
Ag Snapshots is a brief focus on Georgia’s agricultural industry and are based on the Georgia Farm Gate Value Report from the previous year with helpful infographics and maps. Years prior to 2023 can be accessed on the Agribusiness and Economic Development publications site: https://caed.uga.edu/publications/georgia-agricultural-statistics.html
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The state of Georgia ranked ninth out of all states in 2013 for green industry (not including sod production, as this was not included in the analysis) economic contributions (including multiplier effects) to employment (64,066 jobs) and GDP ($3.79 billion) and tenth in total industry output ($6.72 billion). The largest individual sector in regard to output and employment both directly and indirectly was landscape services, representing nearly 57% of industry employment and 39% of economic output. The Georgia green industry represented 0.83% of Georgia gross domestic product (GDP), higher than that of the U.S. green industry as a whole at 0.72% U.S. GDP.
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The environmental horticulture industry, unlike many industries, is intricately connected to the national, regional, and local economy as plant and turfgrass sales ebb and flow with economic conditions. This publication updates readers on the national, regional, and local economic factors that have affected the environmental horticulture industry. Since the recession and drought of the mid-2000s, we find that the environmental horticulture industry has suffered economically and has yet to recover to pre-recession levels.
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Research and development on alternative sources of energy has been a priority for the United States since volatile energy prices in the 1970’s. This period of time, known as the “Energy Crisis,” occurred due to an oil embargo and limited global supply of oil. To combat these problems, Congress passed the Emergency Petroleum Act in 1973, the Energy Policy and Conservation Act in 1975, and created the Department of Energy in 1977. These congressional acts from more than 30 years ago were the beginnings of a national interest towards developing alternative energy sources. The outcome has been support for research and development of nonpetroleum energy sources such as biomass, which is a renewable and carbon neutral source of energy used for heat, electricity and transportation fuels.
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Private forest owners control most of the southern forest resource and are critical to maintaining forest health in the South. Record droughts, rising temperatures, increased frequency and intensity of wildfires, insect and plant invasions, and more intense storm events all pose threats to the health of Southern forests. Scientists project that increases in temperature and changes in rainfall patterns will cause these disturbances to become more common, occurring with greater intensity or duration. This pamphlet reviews healthy forest strategies and approaches to decrease the risks associated with these disturbances on your forestland.
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Linda Wang, National Timber Tax Specialist, Forest Service
Specific Federal income tax laws and rules apply to timber-related income and expenses. The tax tips provided in this bulletin are intended to assist timber owners, foresters, or loggers and their tax preparers in filing their 2017 tax returns. This material is for informational purposes only and is not intended to provide tax, legal, or accounting advice. Please consult your own tax, legal, and accounting advisors before engaging in any transaction. The information is current as of September 30, 2017.|
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Linda Wang, National Timber Tax Specialist, USDA Forest Service
Timber or landscape trees destroyed by the hurricane, fire, earthquake, ice, hail, tornado, and other storms are “casualty losses” that may allow the property owners to take a deduction on their federal income tax returns. The key for most cases is to figure out the “adjusted basis” of the timber. The “Adjusted Basis” of Timber Generally, the cost or the measure of your investment in the property you own is the property’s basis. The original basis is defined as follows: 1) for purchased timber property, it is the purchase price and related costs (such as legal fee and timber cruises); 2) for gifted timber property, it is the donor’s adjusted basis in most instances; 3) for inherited timber property, it is the fair market value (or alternative value if so elected) on the date of death (or alternative valuation date). The “adjusted basis” of a property is the original basis reduced or added by adjustments over the term of ownership (e.g., new purchase increases your timber basis while timber sale decreases your timber basis).
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It is estimated that 2007 plant disease losses, including control costs, amounted to approximately $539.74 million. The value of the crops used in this estimate was approximately $4815.02 million, resulting in an 11.03 percent total disease loss across all crops included in this summary.
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It is estimated that 2006 plant disease losses, including control costs, amounted to approximately $647.2 million. The value of the crops used in this estimate was approximately $4673.73 million, resulting in a 12.08 percent total disease loss across all crops included in this summary.
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