Abstract
Consumer interest in farmers’ markets (FMs) has dramatically increased during the past decade. The number of FMs in the United States has grown from 1755 in 1994 to 8140 in 2019 (USDA, 2019). To evaluate the economic impacts (EIs) of FMs in the Washington, DC metropolitan area, we collected FMs’ consumer data and used IMPLAN-based social accounting matrices to evaluate the direct, indirect, and induced economic impacts of FMs. The empirical results from IMPLAN provide the direct gross sales, income figures, and an estimate of the number of jobs in the study region. The results show the average total output of USD 36,181,059, total employment of 663 people, total value-added creation of USD 19,019,226, and total labor income created of USD 8,653,350 in the region. The FM average income multiplier is 1.51, which indicates that a USD 1 increase in personal income (PI) for an FM translates into USD 1.51 in PI across the economy of the region. We also highlight the impact of FMs as an important component of the circular economy (CE). To this end, we present a qualitative approach examining the potential of a CE as applied to the farmers’ markets in the Washington, DC metropolitan area using qualitative data from focus groups. The goal of the circular economy is to provide more sustainability in the local economy.
Highlights
We provide an assessment of the existing literature concerning the economic impacts and methods used to assess the economic impacts of farmers’ markets on a regional or state economy
This paper presents the results from the economic impact analysis, including the Type
The direct effects accounted for the largest portion of the total economic impact in each impact category, or approximately 66% of the total output, 60% of the value-added, 83% of employment, and
Summary
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. Consumers in the past decade have increased their patronage of farmers’ markets due to consumers’ desire for fresh and locally produced food. Within the Washington, DC metropolitan area alone, farmers’ markets have increased in number, with 154 farmers’. Farmers’ markets have existed since the 17th century in the United
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