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The Economic Contribution of Forestry and Forest Products - Hancock County

Publication Number: M1685
View as PDF: M1685.pdf

Hancock County

Forestry and forest products are a major component of Hancock 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 Hancock County, Mississippi.

Employment and Income Contributions

Forest-related economic activity in Hancock County during 2018 generated 63 jobs and over $2.7 million in income. That’s about 0.3% of jobs and 0.3% 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 $6.7 million, or about 0.2% of economic output in Hancock County. Forest-related value added amounted to over $3.5 million, or about 0.2% 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 $695,796 in tax revenue for federal, state, and local governments. This represents an estimated tax revenue of $500,633 for federal and $195,163 for state and local governments.

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

 

Number of Jobs

% of County

Income ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

14

0.07

806,185

0.08

Logging

7

0.04

439,425

0.04

Solid Wood Products

0

0.00

0

0.00

Wood Furniture

24

0.12

986,094

0.09

Pulp & Paper

0

0.00

0

0.00

Subtotal

46

0.23

2,231,705

0.21

Indirect and Induced Contributions on Sectors

Resource Services

5

0.03

208,244

0.02

Misc. Services

3

0.02

88,520

0.01

Wholesale & Retail Trade

2

0.01

65,811

0.01

Misc. Manufacturing

1

0.01

54,053

0.01

Financial & Real Estate

1

0.01

19,227

0.00

Health Services

1

0.00

61,780

0.01

Transport. & Comm. Services

0

0.00

17,013

0.00

Agricultural Products

0

0.00

0

0.00

Recreation & Amusement

0

0.00

3,080

0.00

Construction

0

0.00

4,562

0.00

Government

0

0.00

8,011

0.00

Domestic Services

0

0.00

3,117

0.00

Utility Services

0

0.00

8,726

0.00

Education

0

0.00

6,154

0.00

Mining

0

0.00

16

0.00

Petroleum & Chemicals

0

0.00

288

0.00

Metal Industries

0

0.00

148

0.00

Transportation Equipment

0

0.00

46

0.00

Food Processing

0

0.00

20

0.00

Glass, Stone, & Clay

0

0.00

15

0.00

Machinery & Equipment

0

0.00

3

0.00

Technology Industries

0

0.00

0

0.00

Agricultural Processing

0

0.00

0

0.00

Fabric Mills & Leather

0

0.00

0

0.00

Farm Inputs & Machinery

0

0.00

0

0.00

Subtotal

17

0.08

548,833

0.05

TOTAL CONTRIBUTIONS

63

0.31

2,780,537

0.27

Rest of County

20,299

99.69

1,036,756,477

99.73

Total in County

20,362

100.00

1,039,537,014

100.00

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

 

Output ($)

% of County

Value Added ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

1,084,989

0.03

810,763

0.05

Logging

666,082

0.02

424,162

0.03

Solid Wood Products

0

0.00

0

0.00

Wood Furniture

3,336,054

0.10

1,382,086

0.08

Pulp & Paper

0

0.00

0

0.00

Subtotal

5,087,126

0.16

2,617,011

0.16

Indirect and Induced Contributions on Sectors

Resource Services

252,850

0.01

212,274

0.01

Misc. Services

263,388

0.01

135,644

0.01

Wholesale & Retail Trade

208,663

0.01

115,847

0.01

Misc. Manufacturing

116,544

0.00

59,113

0.00

Financial & Real Estate

449,614

0.01

246,177

0.01

Health Services

121,943

0.00

69,198

0.00

Transport. & Comm. Services

71,329

0.00

26,939

0.00

Agricultural Products

0

0.00

0

0.00

Recreation & Amusement

10,561

0.00

5,928

0.00

Construction

24,063

0.00

6,374

0.00

Government

29,795

0.00

13,240

0.00

Domestic Services

30,814

0.00

9,819

0.00

Utility Services

75,997

0.00

29,273

0.00

Education

7,185

0.00

5,320

0.00

Mining

2,061

0.00

103

0.00

Petroleum & Chemicals

3,217

0.00

442

0.00

Metal Industries

385

0.00

165

0.00

Transportation Equipment

274

0.00

50

0.00

Food Processing

164

0.00

46

0.00

Glass, Stone, & Clay

102

0.00

28

0.00

Machinery & Equipment

13

0.00

3

0.00

Technology Industries

1

0.00

0

0.00

Agricultural Processing

0

0.00

0

0.00

Fabric Mills & Leather

0

0.00

0

0.00

Farm Inputs & Machinery

0

0.00

0

0.00

Subtotal

1,668,959

0.05

935,984

0.06

TOTAL CONTRIBUTIONS

6,756,085

0.21

3,552,995

0.21

Rest of County

3,202,752,024

99.79

1,679,311,678

99.79

Total in County

3,209,508,109

100.00

1,682,864,673

100.00

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

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

Total forestland acres, 2018

202,559

Private ownership acres

163,323

Public ownership acres

39,236

Forestland assessed value, 2018

$5,779,019

Ad valorem tax collections from forestland, 2018

$547,793

Value of standing timber, 2018

$182,011,284

Value of timber harvested, 2019

$1,931,540

Timber severance tax collections (100%), 2019

$7,388

Tax to Forest Resource Development Program (80%)

$5,911

Tax returned to county government (20%)

$1,478

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.


M1685 (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- Hancock 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