NC
Strategic Scorecard |
6.3.2 Agricultural
Vitality |
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Target: Rank
among top 10 states in net farm income per acre (200%
of US average)
Actual: 377%
of US average
US
Rank 2004: 3rd (down
from 2nd in 2000)
SE
Rank 2004: 1st (1st
in 2000)
SE
Region: AL
FL GA KY MS NC SC TN VA WV Updated
4/11/06
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| Primary
Performance Indicator |
Net Farm Income Per Acre
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Performance
Trend:
The
trend depicts the degree to which actual
performance has approached the target in
recent years. |
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Comments
• |
After
falling in 2002 and 2003, NC’s net farm income
per acre catapulted.
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• |
Since
2000, the net farm income generated per acre in NC
has fallen from $338 to $179, and NC’s competitive
rankings for this measure have fallen from 2nd to
7th in the US and from 1st to 4th in the SE region. |
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Definition
(What Is Being Measured)
Net
farm income (gross farm income less total production
expenses) per acre in farms, where a farm is
any establishment from which at least $1,000
of agricultural products were sold or would normally
be sold during the year.
Source: USDA,
Economic Research
Service, Net
Farm Income for States. |
Relevance
(Why This Is Important)
Net
farm income per acre, coupled with net farm income, gauges the
state’s leadership preeminence in agriculture, a vital component
of overall economic prosperity, especially for rural counties. |
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| Other
Highlights |
| North
Carolina |
• |
NC
continues to be one of the nation’s leading agricultural
states. |
• |
In
2005, NC was 11th in the nation and 3rd in the SE region
(behind Virginia and Florida) in average farm value per
acre, 19th in the nation and 2nd in the SE region (behind
Kentucky) in total acres planted, and 2nd in the nation
(behind Iowa) in hog and pig production (Source: USDA National
Agricultural Statistics Service). |
• |
In
2004, NC ranked 7th in the nation and 1st in the region
in total net farm income (not adjusted for acreage) (Source:
USDA, Economic Research Service). |
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Other
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Southeast
Region
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National
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Global
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Goal
6.3: Revitalize
Traditional Economic Sectors |
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