Fiscal Year 2013
Methodology
The economic impact study was based on data from the U.S.D.A., the Bureau of Economic Analysis,and the New Hampshire Department of Agriculture.This data was used in the development of an economic impact model used to determine the direct, indirect,and induced spending related to the various sectors of the industry.
Purpose
The purpose of the study was to:
- Provide an assessment of the overall economic impact and economic value of the agricultural industry.
- Better understand the relationship between agriculture and tourism.
- Provide a benchmark for gauging agriculture’s economic impact over time.
Key Findings
- Agriculture produced $930 million in direct spending- representing over 2% of the state GDP.
- Direct spending supported 11,606 jobs and generated household income of over $200 million.
- Direct spending produced $43.8 million in state and local government revenues.
- Agriculture’s total economic impact was over $2.3 billion (including direct,indirect,and induced spending).
- A total of 18,326 jobs are linked to agriculture - resulting in nearly $600 million in household income.
- The total of all spending produced $118 million in state and local government tax revenue.