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Economic Impact of levee breach in Mississippi CountyPosted Wednesday, May 4, 2011, at 3:36 PM
The intentional breaching of the Birds Point Levee could cost Mississippi County 522 jobs this year alone, according to estimates from The Center for Economic & Business Research at Southeast Missouri State University.
Dr. Bruce Domazlicky, director of the center, used the IMPLAN model to estimate the economic impact of the loss of the 130,000 acres of farmland now underwater. This amounts to about half of Mississippi County's total cultivated farmland.
The value of this farmland is estimated at $300 million by the Missouri Department of Agriculture.
Net cash income from farming in Mississippi County was $39 million in the last agricultural census in 2007.
Anticipating a one-half reduction in agricultural production in Mississippi County, to $19.5 million, yields an employment decline of 522 jobs in 2011, according to Domazlicky's calculations. This represents almost 9 percent of total full time equivalent employment in Mississippi County.
Labor income is estimated to fall by about $12 million, about 9 percent of the county's total labor income.
Total revenue/sales in the county will decline by $93,457,000 or 14.4 percent.
These economic impacts are estimated just for 2011 using IMPLAN model which looks at the direct, indirect and the induced impacts of an economic change.
"If it is several years until the flooded acres become usable again, we can expect similar impacts to continue into the future," Domazlicky said.
Click this link to read his complete assessment on the center's website: http://www6.semo.edu/cebr/
Click this link to read more about what Mississippi County Agri-business owners estimate the impact of flooding may be: http://www.semissourian.com/story/172421...
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Melissa Miller is business editor at The Southeast Missourian. A graduate of the University of Missouri Journalism School, she's worked as a reporter, photographer, editor and as the executive director of two not-for-profit organizations. After living in Michigan and then Indiana, she moved back to her hometown of Jackson, Mo. In addition to writing daily stories for The Southeast Missourian, Melissa coordinates editorial content each month for Business Today. Business Today is a monthly publication for southeast Missouri's business community. Monthly themes include health care, agriculture, women in business, technology and more. Business Today is direct mailed to business owner and managers throughout southeast Missouri and southern Illinois. Follow her updates on local business developments at www.twitter.com/semissourianbiz or on Facebook at www.facebook.com/MelissaMillerSoutheastMissourian