The significant and long-lasting economic benefits that organic agriculture can offer local communities are featured in an important new publication released Thursday by the Federal Reserve Bank of St. Louis and the U.S. Federal Reserve Board of Governors, The new book, Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities, is a compilation of research, essays and reports exploring how the growing popularity of locally sourced food can be harnessed to boost economic opportunities for rural and urban communities.
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WASHINGTON, D.C. – The significant and long-lasting economic benefits that organic agriculture can offer local communities are featured in an important new publication released Thursday by the Federal Reserve Bank of St. Louis and the U.S. Federal Reserve Board of Governors, The new book, Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities, is a compilation of research, essays and reports exploring how the growing popularity of locally sourced food can be harnessed to boost economic opportunities for rural and urban communities.
The feature chapter on organic, “Organic, A Solid, Beneficial, and Sustainable Investment” was co-authored by Dr. Edward Jaenicke, Associate Professor for Agricultural Statistics at Penn State University and Maggie McNeil, Senior Editor at the Organic Trade Association. The authors detail the findings of a Penn State research paper on organic hotspots summarized in the spring of 2016 in a White Paper released by the Organic Trade Association, “U.S. Organic Hotspots and Their Benefit to Local Economies,” and give real-life examples of how successful investment in organic agriculture creates jobs and business opportunities at the local level and increases the economic possibilities available in a locality.
“Organic agriculture can play a key role in growing a community’s economy, and we were pleased to be able to discuss organic’s positive role in this important and timely publication. We applaud the Federal Reserve system for its commitment to a healthy economy and financial stability,” said Laura Batcha, CEO and Executive Director of the Organic Trade Association. “And we commend the St. Louis Fed, the Fed’s Board of Governors, and the Department of Agriculture for putting together this significant body of work on the importance of investing in and developing healthy and vibrant regional food systems.”
“Regional food systems represent a promising avenue for economic growth for both rural and urban communities through the creation of new or the enhancement of existing jobs and businesses,” said Federal Reserve Board Governor Lael Brainard and St. Louis Fed President James Bullard in the book’s foreword. They continued that through the work that was conducted to develop the book, “we also learned that, with appropriately targeted policies and support, the attendant opportunities can advance the economic and financial security of low- and moderate-income households and communities.”