Multi-Enterprising Farm Households: The Importance of Their Alternative Business Ventures in the Rural Economy
Almost a third of U.S. farm households generate income by engaging in business ventures independent of commodity production, with distinctly different community and household benefits. In 2007, 686,600 farm households engaged in 791,000 income-generating activities distinct from commodity production, creating $26.7 billion in household income. Onfarm diversification activities like agritourism and off-farm business ventures each accounted for about half of these activities, but off-farm businesses generated about 80 percent of total alternative (i.e., noncommodity) business income earned by farm households, creating the largest impact on the local economy. Off-farm businesses operated by farm households contributed an estimated $54.6 billion in value-added income to the gross regional products of their local economies and paid out $24.5 billion in wages and salaries to 853,100 part-time and full-time employees. In general, the share of the local employment base accounted for by farmer-owned off-farm businesses was higher in more rural counties.
|Date of creation:||Oct 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.ers.usda.gov/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sara Carter, 1998. "Portfolio entrepreneurship in the farm sector: indigenous growth in rural areas?," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 10(1), pages 17-32, January.
- Elena G. Irwin & Andrew M. Isserman & Maureen Kilkenny & Mark D. Partridge, 2010. "A Century of Research on Rural Development and Regional Issues," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(2), pages 522-553.
- M. Shucksmith, 1993. "Farm Household Behaviour And The Transition To Post-Productivism," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(3), pages 466-478.
When requesting a correction, please mention this item's handle: RePEc:ags:uersib:138015. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If references are entirely missing, you can add them using this form.