March 2010 - AgStar Rural Capital Network shares rural investment model at USDA Ag Outlook Forum
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Do farmers and rural communities depend on each other? 08/30/10 10:09:46 AM
Surprisingly, 82% of all rural income comes from off-farm sources. That number is growing, not shrinking. That was a surprise to me when I first heard it. Recently, we learned that 84% of AgStar's farm clients utilized a rural healthcare facility in the last year. We learned that 12% of our clients actually work in a rural healthcare facility (hospital, nursing home or assisted living center). What does it mean? It means that farmers work at and depend on rural healthcare facilities. We haven't quantified the impact of rural businesses on farmers, but we would suspect similar trends. It means that rural communities and all it represents is critical to farmers. It provides jobs, amenities, healthcare, technology and infrastructure to agriculture. Likewise, rural communities are dependent on agriculture. Agriculture has been and continues to be a major impact on our state's economy. At AgStar, we recognize both are critical components to our State's well being. It means there is an interdependence that can no longer be ignored. It means AgStar is committed to investing in Agriculture and Rural America, because both depend on each other.
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