Images

Input-Output Predictive Scenario Report

AnalystUsing Analyst’s Input-Output Scenario report you can predict the expected impact of a business loss or gain in your community in terms of  jobs, sales, or wages, and how that event would impact other industries regionally. It gives you the ability to “shock” an economy and measure the impacts.

It also gives you the predictive ability to see:

  • The effect of a new company locating in the local regional economy,
  • The effect of adding jobs to an existing industry sector (such as a major company expansion)
  • The effect of losing a company/losing jobs from the local regional economy

For example, if we wanted to understand the impact of an animal feed mill’s in rural Ontario. We would go through the following steps to get the information that will help us understand the impacts.

First Step: choose a region Continue reading Input-Output Predictive Scenario Report

Cultivating the Great Claybelt

Interest in developing and expanding agriculture in northern Ontario has increased recently. Industry groups such as Beef Farmers of Ontario have pushed to expand their sectors by utilizing underdeveloped, less expensive land in the north. OMAFRA has been working hard to provide support for this initiative. Municipalities across the district of Cochrane, coalescing under the banner of the North East Community Network recently hosted a two-day conference to focus on the challenges and opportunities in the region known as the great claybelt, as well as across northern Ontario as a whole.

The conference “Cultivating the Great Claybelt” attracted more than 250 attendees to Kapuskasing in late March 2017.

Continue reading Cultivating the Great Claybelt

Cost Of Production Calculators Available To Help With Business Planning

In the complex world of production agriculture, determining which crops will make you the most profit can be a daunting task. To help with decision making, several tools are available for downloading from the OMAFRA web site.

One of these tools is the crop budgeting tool.

The crop budgeting tool provides an easy way to enter your costs, yield, and return expectations. From this you can see whether one type of crop will provide value over another. Each producer will have individual costs for items such as seed, fertilizer, and custom work. By entering these costs, one can see the overall cost per acre to grow the crop. The tool also allows for an optimistic, expected, and pessimistic yield, showing the upper end of returns versus what happens if disaster occurs.

This data can be entered on a per acre basis, or on a total acre per field or farm basis.

The tool includes the ability to select the amount of crop insurance coverage a producer would like.

Figure 1 shows the input for the various yield expectations.

crop-tools

The tool also provides a unique “chance of breaking even” based on the data input. Figure 2.

figure-2-chance-of-breaking-evenSome field crops that have budget tools available are: corn, soybeans, canola, barley, oats and wheat.

There is also horticulture crop, fruit tree and livestock budgets available.

Knowing which crops have the potential to provide profit can assist producers with planning and meeting with suppliers and financial institutions. Knowledge is power, and these are powerful tools to provide that knowledge.

To access these tools, please go to:

http://www.omafra.gov.on.ca/english/busdev/bear2000/Budgets/budgettools.htm