WSP10065 - Laserfiche WebLink

Home Browse Search

'1657 ~ Farm and Food Contributions to the Colorado Economy (1987): Executive Summary February 1991 Farm and Food System. The farm and food system is an important component of Colorado's economy. The sys- tem, which includes all activities necessary to deliver food to consumers, contributed $3.8 billion to total state labor and proprietor income in 1987. Further, the system provided 231,000 jobs and accounted for sales of $26.9 billion. Income of the system is 9.8 percent of the state total; employment within the system is 19.1 percent of the state total. Agribusiness. Within the farm and food system agribusi- ness - agricultural supply, production, and processing- produced $1.8 billion, or 4.7 percent of total state income in 1987. With 79,000 jobs, the sector furnished 65 percent of all employment in the state. The agribusiness sector accounted for $1 1.5 billion in gross sales in 1987. On-Farm Production. In 1987, Colorado's farms and ranches alone (the farm production sector) generated $789 million in income, provided 42,000 jobs, and generated gross sales of $3.2 billion. CoIO~<Ig University Farm and Food Sector Contributions to the Colorado Economy, 1987 Employ- Gross EarnIngs ment Sales ($ Mil.) (Thous.) ($ Mil.) Agribusiness Sectors: Agricultural Inputs 322 1 1,647 Fann Production 789 42 3,207 Processing and Marketing 695 25 6,695 Total Agribusiness $1,806 79 $11,549 Percent of State Total 4,7% 6.5% NA Food Wholesaling and Retai]ing 1,991 153 15,331 Total Farm and Food System $3.797 232 $26,88 ] Percent of State Total 9,8% ]9,1% NA (- - - - - - - - - - - - - - - FARM AND FOOD SYSTEM- - - - - - - - - - - - - _ _) (- - - - - - - - AGRIBUSINESS - - - - - - --) Agricultural Farm Processing Inputs - - "'Production - - - - -... and - - - -_ Marketing Wholesaling Consumer and ----- Food Retailing Products Measures of Economic Importance Labor and proprietor income includes the income of wage earners, self-employed persons and business enterprises. It measures the total income generated by economic activity. Its simplicity and relative ease of measurement at the county level are reasons behind its emphasis in this report. Employment is another important measure of economic activity. The number of jobs provided by different industries is an indicator of their contribution to economic output. Gross sales is used frequently to measure economic output, particularly for fann production. However, double counting as each product moves through the farm and food system limits its validity and comparability with other industries. ,