Study Shows Agriculture’s Impact on Woodford County Economy

Thoroughbred stud fees are a significant source of revenue and sales tax revenue in Woodford County, Kentucky.
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Very few would dispute the beauty of Kentucky farmland in the lushness of spring. But a study by researchers from the University of Kentucky’s (UK) Community and Economic Development Initiative of Kentucky (CEDIK) shows that agriculture is more than just a pretty face. In Woodford County, agriculture and the businesses that support it are responsible for one out of three jobs and $565 million in annual revenue.

The CEDIK study was unveiled at a recent news conference at the UK College of Agriculture, Food and Environment’s C. Oran Little Research Center in Woodford County. The study examined the influence of the agricultural cluster to Woodford County’s economy.

“As a college, we are proud to assist counties in characterizing the value of agriculture and equine enterprises on economic development,” said Dean Nancy Cox, MS, PhD. “This research takes a lot of time and effort, and the methods used by CEDIK produce unique and sound insights.”

Traditionally, employment associated with agriculture has been confined solely to production. The study’s authors expanded that view to include not only production agriculture, but businesses that produce agricultural inputs, wholesale and retail businesses, and service-based businesses dedicated to agriculture, such as veterinary, finance, recreation, and transportation. Study authors Alison Davis, PhD; Simona Balazs, MS; Joe Kercsmar, BS; and Melody Nall, MS, MCHES, assert that including these types of businesses shows the true importance of the agricultural sector in the area

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