The Business of Farming

Charles Lawton’s column in today’s Maine Sunday Telegram takes a look at the business side of farming in Maine.

In 2008, the total value of crop and livestock sales, government payments and the value of products consumed on the farm by their owners amounted to approximately $750 million for all Maine farms. Deducting production expenses and declining inventory values left net income of approximately $106 million.

Of this, approximately $40 million derived from corporate farms, and the remaining $66 million from sole proprietorships and partnerships. According to Bureau of Economic Analysis data, this income supported just over 7,200 farm proprietors.