Economics News

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Kentucky net farm income is expected to dip to less than $1.5 billion in 2016, down from $1.7 billion in 2015 and potentially its lowest level since 2010. A significant decline in cash receipts the past couple of years, plus the end of tobacco buyout payments in 2014, have been the major reasons behind the rapid fall in Kentucky’s net farm income since peaking at nearly $3 billion in 2013.

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The forestry sector plays a major role in Kentucky’s economy. The state has recently been hit hard by forest fires in the eastern and southern regions, and the damage will be felt statewide.

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