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| The population of Wayne, MI changed from 1,795,380 (2019) to 1,757,043 (2022). a change of -38,337 (-2.14%). The per capita personal income (PCPI) changed from 42,840 (2019) to 48,509 (2022). a change of 5,669 (13.23%). The state per capita personal income (PCPI) changed from 48,569 (2019) to 57,038 (2022). a change of 8,469 (17.44%). |
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Table CA45 presented below is focused on Farm Income and Expendtures.
The table presents data for selected years through 2022 based on data from the Bureau of Economic Analysis. ProximityOne uses models to develop annual estimates and projections to 2030 and provides related analytical services. Table cells with special characters (# or * or -) indicate data for this area and time period are not available. See footnotes at bottom of table for details. These values can be optionally imputed by the REIS software. |
| REIS Farm Income & Expenditures for Wayne, MI | ||||
| Item Name | 2019 | 2022 | Change | %Change |
| Cash receipts from marketings (thousands of dollars) | 24,517 | 33,613 | 9,096 | 37.1 |
| Cash receipts: Livestock & products | 707 | 1,025 | 318 | 45.0 |
| Cash receipts: Crops | 23,810 | 32,588 | 8,778 | 36.9 |
| Other income | 4,688 | 4,700 | 12 | 0.3 |
| Government payments | 300 | 365 | 65 | 21.7 |
| Imputed & miscellaneous income received 1/ | 4,388 | 4,335 | -53 | -1.2 |
| Production expenses | 27,530 | 33,456 | 5,926 | 21.5 |
| Feed purchased | 1,418 | 1,779 | 361 | 25.5 |
| Livestock purchased | 280 | 319 | 39 | 13.9 |
| Seed purchased | 2,707 | 3,389 | 682 | 25.2 |
| Fertilizer & lime (incl. ag. chemicals 1978-fwd.) | 1,321 | 2,358 | 1,037 | 78.5 |
| Petroleum products purchased | 1,395 | 2,055 | 660 | 47.3 |
| Hired farm labor expenses 2/ | 7,216 | 7,748 | 532 | 7.4 |
| All other production expenses 3/ | 13,193 | 15,808 | 2,615 | 19.8 |
| Value of inventory change | -275 | -165 | 110 | -40.0 |
| Value of inventory change: livestock | -3 | -4 | -1 | 33.3 |
| Value of inventory change: crops | -260 | -230 | 30 | -11.5 |
| Value of inventory change: materials & supplies | -12 | 69 | 81 | -675.0 |
| Cash receipts & other income | 29,205 | 38,313 | 9,108 | 31.2 |
| Less: Production expenses | 27,530 | 33,456 | 5,926 | 21.5 |
| Equals: Realized net income | 1,675 | 4,857 | 3,182 | 190.0 |
| Plus: Value of inventory change | -275 | -165 | 110 | -40.0 |
| Equals: Net income including corporate farms | 1,400 | 4,692 | 3,292 | 235.1 |
| Less: Net income of corporate farms | 892 | 2,933 | 2,041 | 228.8 |
| Plus: Statistical adjustment | 0 | 0 | 0 | - |
| Equals: Farm proprietors' income | 508 | 1,759 | 1,251 | 246.3 |
| Plus: Farm wages & salaries | 10,152 | 9,680 | -472 | -4.6 |
| Plus: Farm supplements to wages & salaries | 1,733 | 2,131 | 398 | 23.0 |
| Equals: Farm earnings | 12,393 | 13,570 | 1,177 | 9.5 |
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1/ Consists of the value of home consumption and other farm related income components, such as machine hire and custom work income and income from forest products (1978 to present). 2/ Consists of hired workers' cash pay and perquisites, employers' contributions for social security and Medicare, and payments for contract labor, machine hire, and custom work. 3/ Consists of repair and operation of machinery; depreciation, interest, rent and taxes; and other miscellaneous expenses including agricultural chemicals (1969-77). All dollar estimates are in current dollars (not adjusted for inflation). Missing data cell values: * Not shown to avoid disclosure of confidential information. Estimates for item are included in totals. # Less than $50,000. Estimates for item are included in totals. - Data not available for this year. Source: ProximityOne, Bureau of Economic Analysis, Bureau of the Census, Bureau of Labor Statistics |