Michigan ranks third nationally for foreign-owned farmland

(The Center Square) – A new U.S. Department of Agriculture report found that foreign investors own nearly 10% of Michigan’s farmland.

Foreign entities or U.S. companies with a “significant foreign interest” hold 1.9 million acres of agricultural land in the state, accounting for 8.8% of Michigan’s total farmland. That share ranks Michigan third-highest nationally for foreign-owned farmland, behind only Maine at 21.3% and Hawaii at 17.1%.

Overall, foreign-owned land of all types in Michigan totals 1.95 million acres – or 5.4% of all Michigan’s acreage.

Foreign ownership of U.S. agricultural land has grown sharply in recent years, both nationally and in Michigan.

According to the USDA report, foreign holdings increased by an average of 600,000 acres per year from 2013 to 2017. Since 2017, that pace has accelerated to more than 2.4 million acres annually, with yearly increases ranging from 1...