Between 1982 and 2002 the top farms in America have doubled their annual sales according to a report released by the U.S. Department of Agriculture. The top farms are those that earn at least $1 million yearly. Only two percent of farms fall into this category, but they are significant because they are responsible for the half the agriculture sales in 2002.

Although organic, small farms seem to be the trend, economists feel that million-dollar farms are where our country is going.

The owners of these large farms may seem like huge corporate operations, but in fact many of them are many consolidated family-owned farms. This is easy to do today because technology assists with growing more crops and tending to livestock.

An example of advances in farm equipment is the ability to harvest 12 rows of crops at one time. The ground can be covered much quicker than with other types of machinery.

Many of the farms employ as little as 13 employees and have such great sales they can pay their employees competitive wages. They also are offered full benefits like any other job. Having other people on hand helps to get the work done. Although possible to complete work, having only two people working a farm can make it seem like the work is never ending.

Today dairy, hog, beef, poultry, fruit and vegetable farms are using this model for business according to Bob Hoppe an economist at the USDA’s Economic Research Service. Because large farms produce more variety and a higher quantity of items, it costs less to produce things.

The biggest concern with multimillion-dollar farms is the fact so many little farms are consolidating to create them. Although consolidation seems to be the answer, at times there are many concerns surrounding it as well.

Many government subsidies and grants are to assist small and medium-size farms. However, most of the money goes to large operations according to the report. This is because small farms consolidate into large farms. President Barack Obama wants the limit of subsidies to be a net worth of $2.5 million because a lot of the money is going to multimillionaires, not farmers who actually need it.

Larger farms are likely to keep growing, Hoppe said. Technology and competition keeps encouraging consolidation, he said.

It is important to realize that it seems like the only successful farms are the larger farms, but this is not the case. Million-dollar farms will tend to dominate farm sales because many farms are simply “lifestyle farms.” A farm is considered a “lifestyle farm” when few animals and crops are raised on the land. These farms must sell at least $1,000 of products a year.

If you are interested in agricultural land of any size please contact a representative at Farm Plus. Visit online or call Farm Plus directly at 866-929-5585. Farm loans are available today.