UNL Reports Look at Irrigation in the State, Willingness to Pay for It

UNL Reports Look at Irrigation in the State, Willingness to Pay for It

September 9, 2011

Nebraska Irrigation Fact Sheet

Irrigation is a vital component of Nebraska’s productive agricultural economy.  This fact sheet explores irrigation from the water source, the Ogallala Aquifer,  to the power source of choice, electricity.

Buyer Willingness to Pay for Irrigation Systems: Evidence from the 2011 Nebraska Farm Real Estate Market Survey

In Nebraska, irrigation is the best risk management tool to hedge against weather variations that negatively impact crop production. An agricultural producer’s ability to “make rain” is insurance against yearly variation in both yields and financial returns. As technology has progressed, reducing labor requirements and increasing efficiency of water application, irrigation has become a mainstay on thousands of Nebraska farms. In fact, the state ranks first in irrigated acres.

Read more in this week's Cornhusker Economics article by UNL Research Economist Chris Thompson and UNL Professor of Agricultural Economics Bruce Johnson.