Jersey Fresh Economic Analysis

Separating out the economic return of growing local food for regional consumption is gaining momentum as more governments and communities measure the economic return of going local. New Jersey is one state that has measured such efforts. The state supports a Jersey Fresh program with an annual expenditure from state funds. From the 2004 NJ Agriculture Annual Report comes this fact: jerseyfresh

Jersey Fresh Economic Impact – Using federal funds, a study was conducted to determine the economic impact of the Jersey Fresh Promotional Program. The study showed that each dollar spent on the Jersey Fresh program increased farm revenues by $31.54. That increase boosted farm-related businesses by an additional $22.95 of sales in agricultural support industries. In total, each dollar spent on Jersey Fresh promotion resulted in $54.49 of increased economic output in the State. With a current budget for Jersey Fresh being about $800,000, this means an increase in farm revenues of $25.2 million, and a total increase in economic output for the state of $43.6 million.

Pretty good return.

This entry was posted in Research and tagged , . Bookmark the permalink.