The agribusiness of agriculture and forestry in South Carolina is one of the largest economic clusters and major economic engines in the state. Together, they have a direct and indirect economic impact of $33.9 billion a year, provide $7.5 billion in labor income, and create and support almost 200,000 jobs in the state
Agriculture and forestry will continue to play a major role in maintaining our nation’s balance of trade. South Carolina exports about $1.4 billion in agricultural and forest products annually. Agricultural exports from South Carolina in 2007 totaled $436 million and forestry products totaled about $1 billion. The agribusiness export market is increasingly important to the well-being of our state and nation in reducing our nation’s trade imbalance.
Buying and selling agribusiness products ripples down through the economy. To produce one dollar of new product, employees must be hired and paid. Wages paid to these workers will be spent on goods and services such as food, fuel, clothing, and housing. As these dollars are spent, they become income to others, the spending cycle continues, and the economy grows.
Farm families today return approximately 80% of every dollar earned back into the state’s economy. They are also working to enhance the environment and reduce environmental impact. With resourcefulness and assistance from public and private organizations, farmers and foresters are working diligently to make a profit, and, in that process, they’re reducing production costs and using environmentally sound practices.
Agriculture and forestry have been an important part of the state’s heritage. The vital link in maintaining economic progress in South Carolina and the essential part of the health and well-being of every man, woman, and child depends on what we do today for the generations of tomorrow.
Agribusiness Economic Impact Study
Agribusiness #1 Industry in SC
|Agribusiness (Farming and Forestry) - South Carolina's #1 Industry
Economic Impact - $33.9 billion a year
Labor Income - $7.5 billion a year
Jobs Created and Supported - 200,000
Farm and Forest Land - 17.75 million acres (92% of all the land in SC)
More Agribusiness Facts