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Economic Impacts of Connecticut’s Agricultural Industry

Author

Listed:
  • Rigoberto A. Lopez
  • Deepak Joglekar
  • Chen Zhu
  • Peter Gunther
  • Fred Carstensen

Abstract

In 2007 this analysis reveals that the total impact of Connecticut’s agricultural industry on the state economy ($212 billion Gross State Product) was up to $3.5 billion, measuring the value of agricultural output as statewide sales generated directly from the industry and through spillover effects on other industries. In addition, the industry contributes about $1.7 billion in value added, the difference between the value of output and the cost of raw materials, i.e., the money left in the hands of residents and business taxes, both of which stay in Connecticut. An additional model is a statistical model of the entire state economy that measures agriculture’s importance by estimating the loss of output and jobs if the sector were removed from the state’s economy.

Suggested Citation

  • Rigoberto A. Lopez & Deepak Joglekar & Chen Zhu & Peter Gunther & Fred Carstensen, 2010. "Economic Impacts of Connecticut’s Agricultural Industry," CCEA Studies 2010-September-01, University of Connecticut, Connecticut Center for Economic Analysis.
    • Handle: RePEc:uct:cceast:2010-sep-01
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    Cited by:

    1. Tammy Warner & Rigoberto A. Lopez & Adam Rabinowitz & Ben Campbell, 2012. "Estimates of Consumption of Locally-Grown Agricultural Products in Connecticut," Outreach Reports 10, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.

    More about this item

    Keywords

    agriculture value-add;

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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