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Economic Information

 

Shenandoah Dairy Inc. Economic Impact on the Local Community

 

Agriculture is a vital component of our local economy and dairy farms are a large part of our agriculture sector. Shenandoah Dairy Inc. and other dairy farms contribute a lot to the local economy. Shenandoah Dairy contribution to the local economy not only affects the people we directly do business with, it also has indirect and induced affects on other local businesses.  Shenandoah Dairy and our employees spend a great deal of money in the local economy that is good for all businesses agricultural and non-agricultural.  Here is a diagram that shows the relationship and impact that Shenandoah Dairy has on the local economy.

  

Dairy farms play a positive role in the local economy. Shenandoah Dairy Inc. is no exception. Below you will see the numbers that reflect the positive economic impact our dairy provides Suwannee County. In addition, we have cited studies done throughout the country that show the benefit of dairies in the respective states.

The facility at Shenandoah Dairy Inc. has already pumped millions of dollars into the local economy, but the benefits will continue for years to come.  Shenandoah Dairy Inc’s contribution to Suwannee County and the surrounding areas is significant. When you input Shenandoah Dairy’s numbers, and include the multipliers, the following contributions are made to our local economy:

Shenandoah Dairy has an economic impact of 179 jobs, an average of 3.8 million dollars in household spending and 16.97 million dollars to Suwannee County’s economy. (Source: http://www.nmpf.org/files/US_Outlook_May_2004.doc.)

Shenandoah Dairy has in an investment in excess of  $8 million in constructing facilities to handle cows and nutrients.  This investment has an economic impact over $15 million dollars in state wide spending and 27 FTE.

The following numbers represent Shenandoah Dairy Inc. annual expenditures directly into the local economy:

  • $1.9 million on purchasing feed from local vendors and farmers.

  • $1.3 million for payroll expenses of employees living in the area

  • $500,000 per year in local, state and federal taxes

  • $400,000 for supplies from local vendors and veterinary expenses

  • $300,000 for local seed, & fertilizer

  • $400,000 for local repairs & maintenance utilizing local welders, suppliers, tires, parts, mechanics, etc.

In studies done in other states the economic impact of construction and yearly running of new dairy facilities has been examined. 

In a study that you can find here: (Missouri Study) they examined the impact of a 1000 cow dairy on the local economy.  For every dollar of construction cost $1.97 is generated in statewide spending and $.40 in statewide personal income.  Employment multipliers for $1 million in construction cost generated 3.4 FTE in local construction, 8.0 FTE from input suppliers and 9.0 FTE from increased household spending.  Annually, $2.9 million in sales generates $7.6 million from sales of input supplies and increased household spending. 

In a similar study found here: (Ohio Study) they found that a $3.6 million dollar construction of a dairy facility added $1.44 million in the local economy.  Annually $4.79-5.16 million in sales added $1.41-1.51 in the local economy.  In this study they also noted that dairy development had much less of an impact on the fiscal cost of local municipalities (schools, fire, police, roads).  In comparing total fiscal costs per dollar of revenue received from different development they found industrial $.11, commercial $.15, residential $1.27 and dairy the lowest at $.08.

Several other studies can be found here… Colorado Study, Wisconsin Paper, Vermont Paper

               

 

 

 
 
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