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Agriculture is South Dakota's leading industry FROM THE CHAIR by Jon Farris

Jon FarrisI am excited to write a column and have a chance to talk about the importance of agriculture to our economy and our way of life here in South Dakota. Agriculture is the life-blood of our state and is an integral part of our rural communities. South Dakota was founded by hardworking farmers and ranchers trying to give their children a better life by working the land. Although there are fewer people directly farming and ranching today, agriculture is still South Dakota's number one industry.

Each year, agriculture has a $20.7 billion economic impact on South Dakota. This represents more than one-third of South Dakota's total economic activity. Agriculture employs more than 143,000 South Dakotans, and is clearly an integral part of our state's economy.

Agriculture is the key reason that South Dakota's economy has not been as seriously impacted as other states in the US by the recent recession. Our strong agriculture base has shored up other industries in our state and agriculture is the key sector investing in rural South Dakota.

These are exciting times for our agriculture industry. The global population continues to climb and demand for agricultural resources is increasing. In the last decade alone, the world population has grown 13%. In the next 40 years, the world population is expected to increase from 6 billion to 9 billion-and they all need to eat. Improving diets in the developing world will help drive up prices and open new markets for our products. With per capita incomes rising in China, India, Korea and other parts of Asia, hundreds of millions of people will be adding new foods to their daily fare.

Of course, scientific research has given us the ability to produce more with less, more corn and soybeans on fewer acres, more beef from fewer head and more milk from each individual cow. Over the years we've become much more efficient; our job is to continue to improve this process-on a far larger scale-while making our food even safer, more nutritious, more affordable and just as appealing to the consumer. Production increases for agricultural commodities have brought a host of benefits, including the potential to reduce our dependence on foreign oil.

Agriculture is South Dakota's cornerstone industry, and gives us a tremendous competitive advantage. For decades, farmers in South Dakota have been experts at raising crops and livestock. Now we're adding to that expertise by evolving into value-added producers.

As demand for productive farmland rises and the world population expands, farmers and ranchers will work even harder to increase production, while utilizing practices that do even more to protect the environment. That's our task for the 21st century, and agriculture is up to the challenge.

Agriculture is the common thread running through all the opportunities facing our great state. As such, we will be well-served to embrace agriculture as an economic development engine to utilize the vast resources at our disposal. South Dakota is uniquely positioned to be at the forefront of this new economy.

We need the determination and creativity to think beyond our normal approaches and look for ways to combine economic development, education and renewable energy into comprehensive packages that utilize our environmental, capital and human resources efficiently and profitably. By harnessing our strengths and remaining true to who we are-rural agriculturists poised to capitalize on 21st century opportunities-we can become leaders in sustainable growth while continuing to drive our state's economy.

 



 2011 SUMMER REPORT
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  Agriculture is South Dakota's leading industry
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  Capital Investment Fund is about more than the money
  Projects show diversity of New Markets Tax Credit program
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  The value of higher-wage jobs in our economy

   

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