The State of Agriculture in the Fifth District and Beyond

Today’s content is co-sponsored by the Federal Reserve Bank of Kansas City.

The agriculture and food sectors are important parts of the U.S. economy, accounting for 22 million full and part-time jobs in the United States —approximately 11 percent of total employment. In the Fifth District, the agriculture sector is dominated by the production of meat, specifically poultry and pork. However, because of the geography of the District, there is a wide range of agriculture produced in the region, ranging from cotton to corn to tobacco. Prior to the COVID-19 pandemic, agriculture had been in a multi-year downturn. Not surprisingly, the pandemic exacerbated some of the issues already faced by the sector. What COVID-19 related challenges is the sector facing? Are these issues now improving? What is the outlook in the sector for the coming years? Today’s content helps provide some answers and insight.

Outlook for Agriculture: U.S. and 5th District

• Outlook for Agriculture: U.S. and 5^th District – Slides from Presentation

An Overview of Agriculture Across the Nation 

Federal Reserve Research and Reading

• COVID-19 Disruptions in the U.S. Meat Supply Chain – Cortney Cowley, Economist 
• Recent presentations on the U.S. Agricultural Economy and Agricultural Finance
  • Agricultural Finance Update provided to the U.S. Commodity Futures Trading Commission’s Global Markets Advisory Committee on September 24, 2020– Nate Kauffman, Vice President and Omaha Branch Executive 
  • Additional presentations on the agricultural economy are available at: https://www.kansascityfed.org/Research/Agriculture
  • An update on agricultural lending and credit conditions at commercial banks is available quarterly at www.kansascityfed.org/Research/Agriculture

• Food Hubs: Mission-Driven Local Food Systems in the Fifth District

Innovative Rural Health Funding Strategies

The COVID-19 pandemic has challenged the health care infrastructure and highlighted disparities in health and health care access across the country. Rural communities, which are disproportionately impacted by hospital closures, health care workforce shortages, and social and economic barriers to health and health care access, will face unique challenges to economic recovery.

Stakeholders, policymakers, local organizations have developed promising rural-specific initiatives, but financial and implementation challenges remain. What will health care delivery look like in rural communities after the pandemic? How can rural hospitals remain financially viable and adequately serve their communities? What innovative public-private partnerships and cross-sector collaborations can address barriers to improving health outcomes in rural communities? How should rural communities and health care facilities leverage existing assets to improve health outcomes and financial stability?

We’re getting answers to these questions on Day 2 of the Richmond Fed’s Rural America Week.

Panel Discussion:  Innovation in Health

Moderator: Mark Holmes – Director, Sheps Center at the University of North Carolina, Chapel Hill

Panelists:

• Caitlin Cain -  Vice President of LISC and Executive Director of Rural LISC
• Antony Chiang – Former CEO, Dogwood Health Trust
• Alana Knudson – Co-Director, Walsh Center for Rural Health Analysis, NORC at the University of Chicago

Richmond Fed Research

• Rural Hospital Closures and the Fifth District
• What's Lost when Rural Hospitals Close
• Hospital Access in the Fifth District and COVID-19

Other Useful Resources and Reading

• A Guide for Rural Health Care Collaboration and Coordination –by Alana Knudson
• Rebuilding the Foundation of Rural Community Health After COVID-19 – by Alana Knudson, et al
• Rural Hospital Closures and Growth in Employment and Wages
• The Consequences of Medicare Pricing: An Explanation of Treatment Choice

Historically Black Colleges and Universities in the Rural South

Historically Black Colleges and Universities (HBCUs) have played a critical role in educating some of the nation’s best and brightest students of color, and 32 of these institutions are based in the states that encompass the Fifth District of the Federal Reserve.

Several of these schools are located in rural counties and others serve large numbers of students from rural parts of the District.  

Map of HBCUs

Panel Discussion: HBCU Presidents Speak

In a time when rural communities and HBCUs are experiencing unique challenges, and all institutions are struggling with the COVID-19 response, what must happen for these schools to not only survive, but also thrive?  What is the value they add to the communities in which they are located? Hear from three presidents of HBCUs based in the Fifth District — and from moderator attorney and HBCU alum Bakari Sellers — as they share why they believe that rural HBCUs, in particular, are so vital to the students they serve and to their communities.

Moderator: Bakari Sellers

Panelists:

• Dr. Karrie Dixon, Chancellor, Elizabeth City State University (NC)
• Dr. W. Franklin Evans, President, Voorhees College (SC)
• Dr. Makola Abdullah – President, Virginia State University

Perspective From An Alum

Richmond Fed President Tom Barkin had an insightful discussion about the importance of HBCUs with North Carolina A&T University alum and lauded entrepreneur Geoff Foster, founder and CEO of Core Technology Corp., based in Greensboro, NC. Listen in.

Recommended Reading:
A UNCF and University of Georgia Report –
HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities

Recommended Viewing:
PBS Independent Lens
Tell Them We Are Rising: This film traces the history of HBCUs in America.

The Richmond Fed is Home to Numerous HBCU Alums!
Our Bank is proud to include among our colleagues graduates of HBCUs from across the Fifth District and beyond. Meet some of our team members.