The Economic Contributions of Ohio's Forest Products Industry

Download or read book The Economic Contributions of Ohio's Forest Products Industry written by Carlos Jose Coronado and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market forces have driven the downsizing and restructuring of the U.S. forest economy, which prompted our assessment of the current conditions of forestry and forest products manufacturing in Ohio. Economic modeling was used to determine the current state of Ohio's forest products industry. We constructed a series of input-output models with 2011 year data using the IMpact Analysis for PLANning system to determine the economic impacts of Ohio's forest-based industries. We then compared the 2011 findings to those from 2001, the year for which the industry impacts had last been assessed. Direct impacts of all forestry and forest products sectors in 2011 summed to 47,200 employees, $4.00 billion in value added, and $13.7 billion in outputs. Nearly all of the 2011 industry values in real terms were lower than those from 2001, which were inflation-adjusted to 2011 constant dollars. Input-output models were also constructed to describe the economic impacts of timber product outputs in Ohio and its three timber market regions - the Northeast, West, and Southeast- for 2012. Impact Analysis for PLANning was used to describe these impacts in terms of employment, output, and value added based on 1) the total value of outputs delivered to market by each region;s logging sector and 2) a per-unit change in the regionalized delivered value of one million board feet (MMBF) of hardwood sawtimber. Direct impacts of timber products were greatest in the Northeast (for output and value added) and Southeast (for employment). The total economic impacts of timber products in Ohio were 2,880 employees, $287 million in output, and $147 million in value added. The per-unit impact results were more varied due to regional differences in economies and timber price determinants. Employment and output economic impacts per MMBF were both highest in the Southeast.