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The Economic Contribution of Forestry and Forest Products - Benton County

Publication Number: M1663
View as PDF: M1663.pdf

Benton County

Forestry and forest products are major components of Benton 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 Benton County, Mississippi.

Employment and Income Contributions

Forest-related economic activity in Benton County during 2018 generated 23 jobs and over $1.2 million in income. That’s about 1.1% of jobs and 2.1% 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 $3.5 million, or about 1.3% of economic output in Benton County. Forest-related value added amounted to over $1.6 million, or about 1.5% 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 $299,515 in tax revenue for federal, state, and local governments. This represents an estimated tax revenue of $212,822 for federal and $86,693 for state and local governments.

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

 

Number of Jobs

% of County

Income ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

0

0.00

0

0.00

Logging

6

0.30

755,225

1.26

Solid Wood Products

7

0.36

273,035

0.45

Wood Furniture

4

0.20

116,315

0.19

Pulp & Paper

0

0.00

0

0.00

Subtotal

17

0.86

1,144,575

1.90

Indirect and Induced Contributions on Sectors

Misc. Services

1

0.05

25,034

0.04

Wholesale & Retail Trade

1

0.05

19,672

0.03

Transport. & Comm. Services

1

0.05

36,938

0.06

Misc. Manufacturing

1

0.03

6,600

0.01

Resource Services

0

0.02

15,474

0.03

Financial & Real Estate

0

0.02

5,367

0.01

Health Services

0

0.02

16,130

0.03

Agricultural Products

0

0.01

1,516

0.00

Government

0

0.00

8,428

0.01

Construction

0

0.00

1,586

0.00

Utility Services

0

0.00

131

0.00

Education

0

0.00

150

0.00

Domestic Services

0

0.00

333

0.00

Recreation & Amusement

0

0.00

11

0.00

Metal Industries

0

0.00

0

0.00

Glass, Stone, & Clay

0

0.00

17

0.00

Transportation Equipment

0

0.00

4

0.00

Petroleum & Chemicals

0

0.00

0

0.00

Food Processing

0

0.00

0

0.00

Machinery & Equipment

0

0.00

0

0.00

Mining

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

Technology Industries

0

0.00

0

0.00

Subtotal

5

0.26

137,391

0.23

TOTAL CONTRIBUTIONS

23

1.12

1,281,966

2.13

Rest of County

1,996

98.88

58,871,365

97.87

Total in County

2,019

100.00

60,153,331

100.00

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

 

Output ($)

% of County

Value Added ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

0

0.00

0

0.00

Logging

945,310

0.36

754,878

0.72

Solid Wood Products

1,248,220

0.47

449,925

0.43

Wood Furniture

721,692

0.27

153,796

0.15

Pulp & Paper

0

0.00

0

0.00

Subtotal

2,915,222

1.10

1,358,600

1.29

Indirect and Induced Contributions on Sectors

Misc. Services

71,478

0.03

39,949

0.04

Wholesale & Retail Trade

90,387

0.03

34,939

0.03

Transport. & Comm. Services

126,587

0.05

40,673

0.04

Misc. Manufacturing

36,229

0.01

8,988

0.01

Resource Services

16,647

0.01

13,619

0.01

Financial & Real Estate

175,782

0.07

99,764

0.09

Health Services

38,860

0.01

19,577

0.02

Agricultural Products

7,529

0.00

2,790

0.00

Government

45,097

0.02

11,996

0.01

Construction

9,377

0.00

1,973

0.00

Utility Services

4,639

0.00

535

0.00

Education

758

0.00

183

0.00

Domestic Services

4,087

0.00

1,459

0.00

Recreation & Amusement

1,085

0.00

71

0.00

Metal Industries

383

0.00

0

0.00

Glass, Stone, & Clay

97

0.00

27

0.00

Transportation Equipment

83

0.00

6

0.00

Petroleum & Chemicals

151

0.00

0

0.00

Food Processing

0

0.00

0

0.00

Machinery & Equipment

0

0.00

0

0.00

Mining

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

Technology Industries

0

0.00

0

0.00

Subtotal

629,256

0.24

276,550

0.26

TOTAL CONTRIBUTIONS

3,544,478

1.33

1,635,149

1.55

Rest of County

262,061,984

98.67

103,922,567

98.45

Total in County

265,606,462

100.00

105,557,716

100.00

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

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

Total forestland acres, 2018

197,856

Private ownership acres

151,922

Public ownership acres

45,935

Forestland assessed value, 2018

$4,030,142

Ad valorem tax collections from forestland, 2018

$455,487

Value of standing timber, 2018

$287,750,173

Value of timber harvested, 2019

$3,828,230

Timber severance tax collections (100%), 2019

$11,837

Tax to Forest Resource Development Program (80%)

$9,470

Tax returned to county government (20%)

$2,367

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.


M1663 (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- Benton 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