Page 6 - Georgia Forestry - Winter2017

ECONOMY
All-Time High by David Foil
Annual Georgia Tech study finds record economic benefits
The Enterprise Innovation Institute at Georgia Tech, in conjunction with the Georgia Forestry Com-
mission, recently released its annual assessment on the economic impacts of forestry in Georgia. After the reces- sion-wrought declines in 2009 and 2010, all categories are on an increasing trend, and the industry has set an all-time high — contributing $32.2 billion dollars to Georgia’s economy in 2015.
The study collects information from various publicly available sources and quantifies economic activity in terms of economic output, employment and
employment increased 3 percent to more than 133,250 jobs, and wages and salaries increased some 10 percent to a total of over $7.8 billion dollars, also an all-time high.
Forestry ranks first in Georgia’s man- ufacturing sector in wages and salaries; and pulp and paper, at 38 percent, is the largest contributor to forestry’s manu- facturing employment base. Forestry contributes to the economies in all 12 of Georgia’s regional commission areas, with Metro Atlanta receiving the great- est benefit.
which 91 percent is privately owned. Also, Georgia’s forest industry is consistently one of the top producing manufactur- ing sectors in the country.1 Our forest economy is healthy, and these positive growth trends in economic impact should keep Georgia forestry on top for many years to come. ■
DAVID FOIL IS A PROFESSIONAL FORESTER AND PRESIDENT OF FOREST RESOURCE CONSULTANTS. BASED
IN MACON, GA, FRC IS A FORESTRY CONSULTING AND REAL ESTATE FIRM SERVING A DIVERSE ARRAY OF FOREST LANDOWNERS IN THE U.S. SOUTH.
Working Forests
Are Vitally Important
to the Metro- Atlanta Region
• $4,319,318,546 Total Output
• $934,509,990
In Wages & Salaries
• 11,333 Jobs
employee
$35,000 $30,000 $25,000 $20,000 $15,000 $10,000
$5,000 $0
32.2
Annual Financial Impact
Our state boasts the largest forest area compensation. Forestry in the country at 24.1 million acres, of
2005
(Million Dollars)
2006 2007 2008
INDIRECT IMPACT
2009 2010 2011
billion
Direct Impact
2012 2013 2014 2015
1) The Economic Impact of Privately-Owned Forests in the United States Prepared for: National Alliance of Forest Owners By: F2M
4 | GEORGIA FORESTRY