Did you know Michigan produces more than 300 different commodities? That makes Michigan the second-most diverse agricultural state in the country behind California. Having such a diverse agricultural industry has an incredible impact on the state’s economy. Agriculture contributes more than $91.4 billion to the economy each year. Here are some more facts about Michigan agriculture:
JOBS: Michigan’s agricultural exports totaled $1.75 billion in 2010, while production agriculture, food processing and related businesses employ over 1.1 million Michigan residents.
GROWTH: Agriculture is one of the fastest growing sectors of Michigan’s economy, increasing 60 percent over the past decade.
DIVERSITY: A wide range of products on store shelves have roots in Michigan, from potato chips, deli meats and dairy products to sugar, baked snacks and fruits and vegetables.
NUMBER ONE: Michigan ranks number one in production of several commodities, including: blueberries, cucumbers, dry black beans, dry cranberry beans, dry small red beans, flowering hanging baskets, geraniums, impatiens, niagara grapes, petunias, squash, tart cherries and vegetable type bedding plants.
ACREAGE: Approximately 10 million acres are embedded in Michigan farms, more than 90 percent of it is owned by families or individuals.
FARMS: Michigan is densely populated with nearly 55,000 farms.
DAIRY: Michigan’s number one commodity – milk and dairy products – contributes nearly $6 billion to the economy annually.
POTATOES: Michigan is the nation’s largest producer of potatoes for potato chips.
POULTRY: Michigan is the nation’s seventh-largest egg producer, and family owned Michigan businesses supply eggs for national restaurants.
SWINE: Michigan’s pork sector generates around $500 million in economic activity every year and employs more than 6,000 people in the state.
FIELD CROPS: Michigan’s land is home to a vast array of field crops, including these found within the top 10 Michigan commodities: corn, soybeans, wheat and sugarbeets.
GreenStone Farm Credit Services is proud to help Michigan’s farmers feed millions of people around the world. We serve more than 23,000 farmers and rural consumers with loans and leases, crop and life insurance, tax preparation, and accounting and appraisal services. Among the more than 80 Farm Credit associations, GreenStone is the country’s sixth largest, with more than $6.3 billion in owned and managed assets.
To find out how GreenStone can help you, call 800-444-3276.