Feature

NCSU Launches Economic Impact Study for the Green Industry

There is a buzz of excitement in our industry as we step into the new year. The North Carolina General Assembly has earmarked $344,000 in nonrecurring funds for the College of Agriculture and Life Sciences (CALS) at North Carolina State University (NCSU) to conduct a comprehensive economic impact study of the green industry within the state. This significant investment marks the first such study in nearly two decades and signifies a significant milestone for the industry.

The decision to allocate funding for this important research was included in the Budget Conference Report and is the result of advocacy efforts by the North Carolina Green Industry Council.

What is an Economic Impact Study (EIS)?

An economic impact study is a method of evaluating the impacts of a project or program on the economy. This study aims to shed light on the green industry's role in enhancing, beautifying, and protecting human environments while also generating jobs and driving economic growth throughout the state.

This research initiative will explore the statewide, regional, and county-level contributions of the green industry to North Carolina's economy. This holistic approach will encompass various facets of the green industry, including:

• Botanic gardens and arboretums

• Christmas tree production

• Composting and compost-use

• Golf courses and country clubs

• Horticulture input and equipment suppliers

• Irrigation systems

• Landscaping and landscape design services

• Nursery, green house and tree production

• Nursery, greenhouse, florists, garden center, and farm supply retailers

• Parks and airports

• Pine needle production

• Turfgrass production

• Urban forestry

Why conduct an Economic Impact Study?

It creates an awareness and interest in the green industry, as well as identifying the industry as a player in local and state economy. Furthermore, it helps provide positive relationships, including legislative and media relations. Contributions to local and state government’s tax revenues produced by this impact have the potential to improve infrastructure, fund programs, and otherwise raise residents’ standard of living.

How Will It Benefit the Green Industry?

The study aims to shed light on the industry's role in enhancing, beautifying, and protecting human environments while also generating jobs and driving economic growth throughout the state. It is expected that the findings will provide valuable insights into the industry's significance and serve as a catalyst for further development. It determines where resources go and don’t go. Policymakers use Economic Impact Study (EIS) data to allocate their time and resources. An EIS can help make the case and garner support for the green industry community.

Who is Leading the Study?

Renowned NCSU economists Melinda Knuth Ph.D. and Daniel Tregeagle Ph.D., will lead the study.

“Serving the green industry through the role in generating this impact assessment is a core pillar of our positions here at North Carolina State University. We are honored and privileged to be part of this important contribution to North Carolina's green industry,” Dr. Melinda Knuth, Assistant Professor of Horticultural Science and Director of Cognitive Behavioral Lab, shared with TCNC.

Their expertise in economic analysis and their commitment to advancing North Carolina's green industry will result in a report that will help to grow the state’s green industry economy. CALS will collaborate closely with the North Carolina Green Industry Council and the NC Department of Agriculture and Consumer Services to ensure the study's comprehensiveness and accuracy. The results of this pivotal study are anticipated to be presented to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources by January 15, 2025.

“It will be exciting to see how the industry has grown since 2005 when the last economic impact assessment was done. It's also exciting to see what areas are new or emerging for the NC industry,” states Dr. Daniel Treageagle, Assistant Professor of Agriculture & Resource Economics.

How You Can Contribute to the Study

We invite you to contribute to the economic impact study by participating in their survey. Being a part of this important research will provide critical insight that will help us understand and promote the immense potential and value of the green industry. Your insights will play a crucial role in shaping future policies and developments.

To participate, please log into turfgrasscouncilnc.org and confirm your email address. We will be sending links to the survey in February 2024. You can also keep an eye out for a link in our February newsletter.

“Turfgrass is an integral part of the horticulture industry. In fact, turfgrass is the single most common plant grown around the United States, even above corn! Understanding turfgrass' contribution to the overall economic scope and breadth to the industry would be not only helpful for the turfgrass sector, but validate the need and desire for turfgrass products,” explains Dr. Knuth.

As we step into the new year, this comprehensive report aims to shed light on the immense contribution of the green industry to our economy. We hope that you will join us in these efforts by completing the survey.