King County Farm Production Revenues and Expenditures Gap

Data Discussion

The Indicator Defined

The difference between farm revenues from product sales (cash receipts) and production expenses.

Data Interpretation/Evaluation

In the thirty-eight year period from 1969 to 2007, farm sales grew in value from $25 million to nearly $150 million in King County.  Total farm expenditures, including land costs, grew over that same period from around $21 million to over $120 million in a fairly similar pattern. 

The average yearly balance (revenues minus expenditures) during these years was $7.9 million for the county as a whole.  The years 2000 and 2006 were the only years in which King County experienced a negative revenues-expenditure gap. The lowest year was in 2006 with a value of -$4.2 million. The following year, 2007, yielded the highest balance of farm and revenues and expenditures which was about $28.5 million.  The positive balance between revenues and expenditures for King County is in contrast to studies done of primarily agriculture counties by Ken Meter which found negative and declining balances.  For example, Clallam and Jefferson Counties on the peninsula averaged a negative balance of $1 million over this same period. 

Data Source and Limitations

Primary Source Data: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce, Database CA45 - Farm income and expenses

All state and local area dollar estimates are in current dollars (not adjusted for inflation)

 

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