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In this month's Knowledge Exchange Partner, Forest Economic Advisors, LLC (FEA) examines the forest product markets over the coming year including the state of recession predictions, overall economic growth, and construction and manufacturing markets in this year's 2024 Outlook for the Forest Products Industry report.

Farm Credit East recently released a series of reports and webinars providing economic outlooks for the diverse sectors of Northeast agriculture, including dairy, grain and oilseeds, greenhouse and nursery, maple, apple and forest products.

Beginning July 1, 2024, Vermont employers and self-employed individuals will begin making contributions composed of a 0.44% payroll tax on wages and a 0.11% self-employment income tax to the Vermont Department of Taxes for deposit into the Child Care Contribution (CCC) Special Fund.

In this webinar, Farm Credit East was joined by Texas A&M’s Dr. Charlie Hall who reviewed green industry operational and financial performance in 2023 and then discussed the outlook for 2024.

Northeast green industry growers are invited to participate in a free Farm Credit East webinar taking place on Wednesday, March 20, at 1 p.m. This webinar will review 2023 results for the green industry, including nursery, greenhouse and sod industries, and then provide economic projections for the coming year. 

The Farm Credit Northeast AgEnhancement Program, a joint effort of Farm Credit East and CoBank, recently provided more than $100,000 in grant funding to 22 organizations to assist their efforts to encourage youth leadership development, support young and beginning farmer initiatives, promote diversity, equity and inclusion, and advance northeast agriculture, forestry and commercial fishing. 

The Farm Credit System today reported that combined net income increased 8.1% to $1.9 billion and 11.9% to $3.9 billion for the three and six months ended June 30, 2024, as compared with net income of $1.8 billion and $3.5 billion for the same periods of the prior year.

Paul Jannke of Forest Economic Advisors joined Farm Credit East for a discussion on the 2024 economic outlook for the forest products industry.

At Farm Credit East’s Annual Meeting held earlier this week, the financial cooperative was pleased to announce two winners of the Lipinski Rural Initiatives award. This year’s recipients are being recognized for their innovative approaches for improving rural access to healthcare and investing in rural businesses. Each recipient was awarded $25,000. 

Dr. Charlie Hall of Texas A&M University gives a Green Industry update and economic outlook for 2024, including a look back at 2022, landscape sector resilience, the varied profit levels seen across the industry in 2023 and look to the implication of new technology and innovation.