Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Agriculture study shows industry’s impact on Western Slope economy – Full Analysis.
GRAND JUNCTION, Colo. (KJCT) – Nearly 5% of all jobs in a five-county region are through the agriculture industry, according to a new study released on January 19 by the Business Incubator Center.
The center commissioned Nathan Perry, an economics professor fore the Davis School of Business at Colorado Mesa University. Perry conducted a study over the summer on the economic impact of agriculture across five Western Slope counties: Mesa, Delta, Montrose, Garfield and Rio Blanco.
Local agriculture producers were invited to the center Monday night to learn about the local study, what it means for Western Colorado and how the industry could change.
“We have gone out of our way to make sure that the five counties that are heavy AG are represented and that we have a study of its own that can translate into policy points and action points and really an understanding in depth of the economic impact of AG in our communities,” said Dalida Sasson Bollig, CEO for the Business Incubator Center.
According to Perry, the study is split into three parts: economic contribution, a survey of AG producers, and an AG Census.
Sasson Bollig said the research is “the first of its kind that combines all these three types of quantitative and qualitative methods for this region.”
According to the study, agriculture is responsible for outputting around $720 million into the regional economy. It also accounts for $107 million in labor income. Perry noted that a key outcome of the study is recognizing a succession problem in the industry. The study notes that total farmland has dropped by 15-30% since 2002. 35-44% of producers across the five counties are over age 65, whereas only 8% are under 35.
Through the study and his presentations, Perry said he hopes the community recognizes agriculture’s broader impact beyond economics.
“We take for granted the landscapes, we take for granted the food, and we take for granted the legacy and the culture that it brings to a region,” Perry said. “But the truth is, a lot of people love living in western Colorado because of this.”
The Business Incubator Center and Perry will visit two more counties in January to present these findings to regional agricultural producers.
- Rifle: Thursday, January 29, from 5:30 to 7:00 p.m. at Garfield Fairgrounds and Event Center (001 Railroad Ave, Rifle, CO 81650)
- Montrose: Friday, January 30, from 5:30 to 7:00 p.m. at 1036 N, 7th St. Montrose CO, 81404
The full report can be found here.
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