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The Economic Contribution of Forestry and Forest Products - Franklin County

Publication Number: M1690
View as PDF: M1690.pdf

Franklin County

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

Employment and Income Contributions

Forest-related economic activity in Franklin County during 2018 generated 216 jobs and over $6.2 million in income. That’s about 8.5% of jobs and 6.5% 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 $15.2 million, or about 4.4% of economic output in Franklin County. Forest-related value added amounted to over $7.0 million, or about 4.4% 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 $1.86 million in tax revenue for federal, state, and local governments. This represents an estimated tax revenue of $1.29 million for federal and $572,496 for state and local governments.

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

 

Number of Jobs

% of County

Income ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

3

0.11

89,605

0.09

Logging

170

6.73

4,709,877

4.85

Solid Wood Products

4

0.17

123,368

0.13

Wood Furniture

0

0.00

0

0.00

Pulp & Paper

0

0.00

0

0.00

Subtotal

177

7.01

4,922,850

5.07

Indirect and Induced Contributions on Sectors

Resource Services

18

0.73

623,953

0.64

Wholesale & Retail Trade

6

0.25

229,150

0.24

Misc. Services

5

0.20

187,512

0.19

Financial & Real Estate

2

0.09

33,431

0.03

Transport. & Comm. Services

2

0.08

95,441

0.10

Misc. Manufacturing

2

0.07

53,574

0.06

Agricultural Products

1

0.04

39,819

0.04

Domestic Services

1

0.03

25,590

0.03

Health Services

1

0.02

19,238

0.02

Education

0

0.02

11,672

0.01

Government

0

0.01

17,890

0.02

Recreation & Amusement

0

0.01

488

0.00

Construction

0

0.01

5,173

0.01

Utility Services

0

0.00

3,820

0.00

Mining

0

0.00

148

0.00

Food Processing

0

0.00

86

0.00

Petroleum & Chemicals

0

0.00

0

0.00

Metal Industries

0

0.00

0

0.00

Machinery & Equipment

0

0.00

0

0.00

Glass, Stone, & Clay

0

0.00

3

0.00

Transportation Equipment

0

0.00

1

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

39

1.55

1,346,990

1.39

TOTAL CONTRIBUTIONS

216

8.55

6,269,840

6.46

Rest of County

2,310

91.45

90,798,895

93.54

Total in County

2,526

100.00

97,068,735

100.00

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

 

Output ($)

% of County

Value Added ($)

% of County

Direct Contributions from Forest-Related Sectors

Misc. Forest Products

144,852

0.04

91,721

0.06

Logging

10,320,031

2.99

4,700,393

2.95

Solid Wood Products

913,254

0.26

220,448

0.14

Wood Furniture

0

0.00

0

0.00

Pulp & Paper

0

0.00

0

0.00

Subtotal

11,378,137

3.30

5,012,562

3.14

Indirect and Induced Contributions on Sectors

Resource Services

667,506

0.19

529,082

0.33

Wholesale & Retail Trade

939,450

0.27

401,445

0.25

Misc. Services

421,372

0.12

246,655

0.15

Financial & Real Estate

908,002

0.26

524,313

0.33

Transport. & Comm. Services

308,046

0.09

122,525

0.08

Misc. Manufacturing

132,421

0.04

62,032

0.04

Agricultural Products

63,945

0.02

9,586

0.01

Domestic Services

231,025

0.07

80,287

0.05

Health Services

47,259

0.01

21,958

0.01

Education

17,280

0.01

10,634

0.01

Government

34,051

0.01

22,458

0.01

Recreation & Amusement

3,447

0.00

1,271

0.00

Construction

29,595

0.01

7,119

0.00

Utility Services

32,898

0.01

12,518

0.01

Mining

9,221

0.00

502

0.00

Food Processing

406

0.00

122

0.00

Petroleum & Chemicals

0

0.00

0

0.00

Metal Industries

0

0.00

0

0.00

Machinery & Equipment

16

0.00

0

0.00

Glass, Stone, & Clay

42

0.00

6

0.00

Transportation Equipment

27

0.00

1

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

3,846,009

1.11

2,052,516

1.29

TOTAL CONTRIBUTIONS

15,224,146

4.41

7,065,078

4.43

Rest of County

330,037,750

95.59

152,374,299

95.57

Total in County

345,261,896

100.00

159,439,377

100.00

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

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

Total forestland acres, 2018

322,534

Private ownership acres

226,926

Public ownership acres

95,608

Forestland assessed value, 2018

$8,095,898

Ad valorem tax collections from forestland, 2018

$886,744

Value of standing timber, 2018

$627,692,528

Value of timber harvested, 2019

$22,971,121

Timber severance tax collections (100%), 2019

$68,629

Tax to Forest Resource Development Program (80%)

$54,904

Tax returned to county government (20%)

$13,726

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.


M1690 (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- Franklin 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