Deployment of broadband e-Connectivity and Next Generation Precision Agriculture Technology on farms and ranches throughout the U.S. could result in at least $47 billion in national economic benefits every year. That’s according to a new report just out from the U.S. Department of Agriculture.
According to the report: “A Case For Rural Broadband,” broadband infrastructure and digital technologies at scale were available at a level that meets estimated producer demand, the U.S. economy could realize benefits equivalent to nearly 18 percent of total agriculture production.
Of that 18 percent, more than one-third is dependent on broadband e-Connectivity, equivalent to at least $18 billion in annual economic benefits that only high-speed, reliable internet can provide.
For several years, USDA and the American agriculture industry have been researching the feasibility, usage and potential upside of precision ag technologies. Until now though, the interdependency of these technologies and broadband e-Connectivity has not been evaluated.
The report explores this symbiotic relationship and quantifies the potential economic benefit of broadband buildout and the complementary adoption of connected agriculture technologies. Going forward, the USDA said it will be engaged in multiple facets of infrastructure and technology deployment, including financing rural capital investments and supporting producers who are exploring which precision ag technologies are best suited to improve their operations and serve their customers.
“Broadband and Next Generation Precision Agriculture are critical components for creating vital access to world-class resources, tools and opportunity for America’s farmers, ranchers, foresters and producers,” stated Secretary Perdue. “Under the leadership of President Trump, USDA is committed to doing our part to clear the way for nationwide broadband connectivity that will allow the next generation of precision agriculture technologies to thrive and expand.”
May 6, 2019