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The Economic Contribution of Forestry and Forest Products - Panola County

Publication Number: M1758
View as PDF: M1758.pdf

Panola County

Forestry and forest products are a major component of Panola County’s economy. Forest-related economic sectors generate value not only within the forest-related sectors but also in other sectors of the economy. The economic contributions of forest-related sectors and their contributions on other sectors can be estimated using input-output analysis. Using 2018 data, this study estimates the total economic contributions of forestry and the forest products industry to Panola County, Mississippi.

Employment and Income Contributions

Forest-related economic activity in Panola County during 2018 generated 60 jobs and over $2.7 million in income. That’s about 0.4% of jobs and 0.5% of income in the county. Employment is the number of full- and part-time jobs in all sectors of the economy. Income includes all forms of employment income, including employee compensation (wages and benefits) and proprietor income, also referred to as labor income.

Total Output and Value Added Contributions

Forestry and the forest products industry generated over $7.3 million, or about 0.3% of economic output in Panola County. Forest-related value added amounted to over $3.6 million, or about 0.4% of all value added in the county. The value of all goods and services produced is defined as total output. Value added is a portion of total output and represents the creation of new wealth.

Tax Contributions

Forest-related economic activity contributed an estimated $704,135 in tax revenue for federal, state, and local governments. This represents an estimated tax revenue of $468,873 for federal and $235,262 for state and local governments.

Contributions from forest-related sectors on employment and income in Panola County, Mississippi, 2018.

 

Number of Jobs

% of County

Income ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

3

0.02

139,491

0.02

Logging

15

0.09

354,955

0.06

Solid Wood Products

13

0.08

591,447

0.10

Wood Furniture

11

0.07

1,017,734

0.17

Pulp & Paper

0

0.00

0

0.00

Subtotal

41

0.26

2,103,627

0.35

Indirect and Induced Contributions on Sectors

Misc. Services

4

0.03

96,156

0.02

Wholesale & Retail Trade

4

0.02

156,670

0.03

Resource Services

3

0.02

107,696

0.02

Misc. Manufacturing

3

0.02

63,727

0.01

Health Services

2

0.01

114,038

0.02

Financial & Real Estate

1

0.01

48,837

0.01

Transport. & Comm. Services

1

0.01

18,686

0.00

Agricultural Products

0

0.00

3,197

0.00

Domestic Services

0

0.00

11,957

0.00

Education

0

0.00

4,807

0.00

Recreation & Amusement

0

0.00

1,389

0.00

Construction

0

0.00

5,065

0.00

Utility Services

0

0.00

8,715

0.00

Government

0

0.00

5,711

0.00

Mining

0

0.00

103

0.00

Petroleum & Chemicals

0

0.00

154

0.00

Transportation Equipment

0

0.00

96

0.00

Food Processing

0

0.00

64

0.00

Metal Industries

0

0.00

0

0.00

Glass, Stone, & Clay

0

0.00

69

0.00

Farm Inputs & Machinery

0

0.00

1

0.00

Machinery & Equipment

0

0.00

1

0.00

Agricultural Processing

0

0.00

1

0.00

Technology Industries

0

0.00

0

0.00

Fabric Mills & Leather

0

0.00

0

0.00

Subtotal

18

0.12

647,141

0.11

TOTAL CONTRIBUTIONS

60

0.38

2,750,767

0.45

Rest of County

15,831

99.62

602,087,781

99.55

Total in County

15,891

100.00

604,838,548

100.00

Contributions from forest-related sectors on total output and value added in Panola County, Mississippi, 2018.

 

Output ($)

% of County

Value Added ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

194,664

0.01

140,563

0.01

Logging

862,592

0.04

377,505

0.04

Solid Wood Products

2,101,532

0.09

849,378

0.08

Wood Furniture

2,043,263

0.09

1,181,189

0.11

Pulp & Paper

0

0.00

0

0.00

Subtotal

5,202,051

0.22

2,548,635

0.24

Indirect and Induced Contributions on Sectors

Misc. Services

275,532

0.01

135,190

0.01

Wholesale & Retail Trade

468,067

0.02

273,500

0.03

Resource Services

113,150

0.00

90,017

0.01

Misc. Manufacturing

192,258

0.01

81,125

0.01

Health Services

246,674

0.01

130,375

0.01

Financial & Real Estate

467,081

0.02

256,838

0.02

Transport. & Comm. Services

107,429

0.00

24,838

0.00

Agricultural Products

25,170

0.00

8,197

0.00

Domestic Services

69,399

0.00

31,439

0.00

Education

6,497

0.00

4,311

0.00

Recreation & Amusement

7,847

0.00

3,653

0.00

Construction

22,585

0.00

6,588

0.00

Utility Services

99,523

0.00

34,364

0.00

Government

8,543

0.00

6,394

0.00

Mining

3,900

0.00

290

0.00

Petroleum & Chemicals

975

0.00

288

0.00

Transportation Equipment

968

0.00

132

0.00

Food Processing

329

0.00

72

0.00

Metal Industries

743

0.00

0

0.00

Glass, Stone, & Clay

246

0.00

96

0.00

Farm Inputs & Machinery

23

0.00

2

0.00

Machinery & Equipment

3

0.00

1

0.00

Agricultural Processing

7

0.00

1

0.00

Technology Industries

2

0.00

0

0.00

Fabric Mills & Leather

0

0.00

0

0.00

Subtotal

2,116,949

0.09

1,087,712

0.10

TOTAL CONTRIBUTIONS

7,319,000

0.31

3,636,346

0.35

Rest of County

2,319,051,346

99.69

1,040,575,230

99.65

Total in County

2,326,370,346

100.00

1,044,211,576

100.00

Economic contributions developed using 2018 IMPLAN® software and data (reported in 2020 dollars).

Panola County forestland acreage, ownership, value, and taxes collected.

Total forestland acres, 2018

213,212

Private ownership acres

197,562

Public ownership acres

15,650

Forestland assessed value, 2018

$6,498,704

Ad valorem tax collections from forestland, 2018

$823,646

Value of standing timber, 2018

$254,023,967

Value of timber harvested, 2019

$4,685,265

Timber severance tax collections (100%), 2019

$9,672

Tax to Forest Resource Development Program (80%)

$7,737

Tax returned to county government (20%)

$1,934

Sources: Forestland ownership, acreage, and timber volumes were estimated using the USDA Forest Service, Forest Inventory and Analysis Program, Forest Inventory EVALIDator web application Version 1.8.0.01. Tax collections according to Mississippi Tax Commission and Mississippi Department of Revenue. Timber harvest values according to the Mississippi Harvest of Forest Products Report.


M1758 (100-11-20)

By Shaun M. Tanger, PhD, Assistant Extension Professor, Forestry; Marcus K. Measells, MS, Senior Extension Associate, Forestry; James E. Henderson, PhD, Extension Professor and Head, Coastal Research and Extension Center; and Ian A. Munn, PhD, Associate Dean and Professor, Forestry.

Copyright 2020 by Mississippi State University. All rights reserved. This publication may be copied and distributed without alteration for nonprofit educational purposes provided that credit is given to the Mississippi State University Extension Service.

Produced by Agricultural Communications.

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Extension Service of Mississippi State University, cooperating with U.S. Department of Agriculture. Published in furtherance of Acts of Congress, May 8 and June 30, 1914. GARY B. JACKSON, Director

Department: MSU Extension- Panola County
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Authors

Portrait of Dr. Shaun Tanger
Assistant Professor
Timber Taxation, Forestry Economics, Forest Management, Forest Finance
Portrait of Mr. Marc Measells
Senior Extension Associate
Portrait of Dr. James Emery Henderson
Professor and Head
Forest Economics and Management

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