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MAFI reflects confidence in Michigan food and agriculture industry

Leaders in Michigan’s food and agriculture industry are feeling positive about food and agriculture in Michigan. The results of the recent Michigan Agriculture and Food Index (MAFI) reflect their optimistic outlook. In addition, their confidence in our state’s economy overall is climbing.

Twice a year since April 2013, staff members at the Michigan State University Product Center Food-Ag-Bio have sent questionnaires to leaders chosen to give their opinions about the current business climate in the food and agriculture industry. These leaders, members of the Food and Agriculture Roundtable, are made up of farmers, food processors and people who run agribusinesses.

The results of the surveys are used to create the MAFI. A score of 100 is considered neutral on the index’s rating system. Ratings above 100 are considered positive and ratings below 100 are considered negative. Since the index’s inception in 2013, the ratings have never been negative. In addition, ratings on the state of Michigan’s overall economy have grown from 115 in April 2013 to 120 in January 2014 to 133 in April 2014. More than 70 percent of those surveyed are positive about Michigan’s economy.

The index also showed respondents ratings of the state of the food and agriculture system, which showed a steady confidence on all three surveys with indexes of 147, 146 and 145 for each survey, respectively. In addition, respondents generally believe that sales will increase, and the investment index increased 8.4 percent from January to April. The employment index remains unchanged from January.

The index helps Michigan State University Extension educators and specialists to better understand the needs of the industry and determine how our efforts influence conditions.

Check out this article and video from WILX, which features Gov. Rick Snyder; Dr. Chris Peterson, director of the Product Center; and Betsy Braid, Agriculture and Natural Resources Communications educational program coordinator: http://www.wilx.com/home/headlines/State-Agriculture-Business-Booming-268187132.html

Read more on the MAFI in the executive summary: http://expeng.anr.msu.edu/uploads/files/42/MI%20Food%20and%20Ag%20Roundtable%20results%207-18.pdf

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Governor praises and challenges Michigan agriculture at Ag Expo

On Tuesday at the Ag Expo VIP Breakfast, I had at the privilege of sharing the podium with Gov. Rick Snyder and Michigan State University President Lou Anna K. Simon as well as Dr. Chris Peterson, director of the MSU Product Center Food-Ag-Bio.

Gov. Snyder praised agriculture as a steadying force but challenged leaders of agriculture to keep it growing into the future. His top priority is working to develop and keep a growing skilled work force in agriculture and other trades. He also highlighted the food safety innovation done here at MSU.

Read more about what the governor said in this news release from Agriculture and Natural Resources (ANR) Communications: http://anrcom.msu.edu/anrcom/news/item/gov._snyder_challenges_mich._ag_leaders_to_take_leadership_role_in_world_fo

Dr. Peterson announced the results from the latest Michigan Agriculture and Food Index (MAFI), which show that leaders in the food and agriculture industry remain optimistic about their businesses and Michigan’s economy.

Read more about the MAFI results in this ANR Communications release: http://anrcom.msu.edu/anrcom/news/item/michigan_state_university_food_and_ag_leaders_hopeful_about_industry_state

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