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Kentucky Forestry
Economic Impact Report 2015


 

Kentucky plays a pivotal role in providing forest products to the U.S. and beyond; the forestry sector is a major economic force in the commonwealth. Estimates of the economic contribution and related 2015 statistics include:

* $8.77 billion in direct economic contribution.
* $13.7 billion in total economic contribution a 5.48% increase over 2014.
* 27,681 jobs in the forest industry and an estimated 57,750 jobs overall.
* 713 facilities located in 109 of Kentucky's 120 counties, gaining 10 facilities since
2014.


Logging, primary processing (sawmills and pulpmills), residues and paper converters increased in 2015, while secondary industries decreased slightly.
Sawlog production estimated at 762,000 board feet, stable compared to 2014, with growth still outpacing removals 2:1. Kentucky remains one of the leaders in hardwood sawlog production in the U.S.

Exports estimated to increase to $328 million, with barrels (new and used) and white oak lumber still the number 1 and 2 exports. Europe remains the destination for our exports followed by Asia and North America (Mexico and Canada).
Hardwood sawlog delivered prices for most major species with the exception of black walnut were off their highs in mid-2014, down 8.3% overall.
Railway tie logs pricing was stable across Kentucky averaging $375 per thousand board feet for non-oak logs.

Stave logs continued recent increases averaging above $1 per board foot for the first time.  Pulpwood pricing was highly volatile in 2015. Predictions for 2016 indicate stable sawlog and railway tie markets and increases in demand for white oak. Demand and prices for white oak stave logs will continue in 2016.
The closing of the Verso pulp and paper facility in Wickliffe will result in the functional collapse of pulpwood markets in western KY and a resulting loss of over $350 - 400 million in annual economic contributions to the Purchase region and a significant impact the logging sector.   



 


Please click on one of the2014 reports below to view the summary or full report.


You can also view the Kentucky Agricultural Economic Outlook for 2014-2015 by clicking here.

 

 

View the full Kentucky Economic Impact Report 2013-2014
Economic Impact Report


Forestry was included in the 2013-2014 KY Agricultural Economic Outlook. You can watch a video of Dr. Stringer’s forestry sector presentation by clicking below. You can also view the Kentucky Agricultural Economic Outlook for 2014 by clicking here.





2012-2013
Kentucky forestry sector is a major economic force in the Commonwealth providing over 51,000 jobs and $9.9 billion to Kentucky's economy in 2012. It's economic input was generated from 708 facilities located in 109 of Kentucky's 120 counties including a wide range of industries from logging and sawmills to cabinet manufacturers and paper and producers.

Click on the documents below to view the entrie report (left) or a one page summary (right) pdf.

Report coverFORFS13-04







Forestry was included in the KY Agricultural Economic Outlook click the pdf to the below to view it. You can watch below or click here for a video of Dr. Stringer’s forestry sector presentation or you can watch the entire press conference including all the agricultural commodity reports by clicking here.





Kentucky Farm Bureau's Across Kentucky Podcasts:

Click here to listen to Kentucky Farm Bureau's podcast focused on Kentucky’ forest industry’s economic impact that is set at $9.9 billion and over 50,000 in direct and related jobs in over 100 counties across the state. - June 2013


Click here to listen to Kentucky Farm Bureau's podcast focused some of the specific production and product categories that result in some 51,000 direct and related jobs in over 100 Kentucky counties. - June 2013

Click here to listen to Kentucky Farm Bureau's podcast focused on the jobs related to the Kentucky Forest and Wood Industry - June 2013


Click here to listen to Kentucky Farm Bureau's podcast focused on the Economic Impact of the Kentucky Forest and Wood Industry - May 2013



Other articles of interest:
UK Ag News - Forest Industry has considerable economic impact

UK Ag News - Ag Impact on State, Region Worth Billions

UK AG News - Kentucky 2012 farm cash receipts on track to break $5 billion

The Rural Blog

Kentucky Forward