Forestry is a vital natural resource in South Carolina and the ACE Basin. The forest industry is important to the South Carolina economy and will continue to play a major role into the foreseeable future. The forestry sector provides jobs and income to residents, and is a source of wealth (a natural asset) to the many small woodlot owners in the state. Timber is the largest cash crop in the state and the forestry industry is the third largest manufacturing employer in South Carolina.
It is important to recognize that timber has many different kinds of value. The largest and most easily recognized values are economic and are realized when the timber is harvested. The economic benefits include: income to the owner of the timber, profits to businesses from the sale of wood products, wages for those working in the wood and wood products industry, sales income of other dependent industries, and the taxes local government levies on forestry-related goods and services.
Forests left intact can also generate economic benefits. A stand of timber increases in value as the resource matures. Forests can, when marketed and made accessible to visitors, increase the local economy through tourism and recreational activities. Finally, the importance of forests is not only economic but social and environmental.
It is important to recognize that timber has many different kinds of value. The largest and most easily recognized values are economic and are realized when the timber is harvested. The economic benefits include: income to the owner of the timber, profits to businesses from the sale of wood products, wages for those working in the wood and wood products industry, sales income of other dependent industries, and the taxes local government levies on forestry-related goods and services.
Forests left intact can also generate economic benefits. A stand of timber increases in value as the resource matures. Forests can, when marketed and made accessible to visitors, increase the local economy through tourism and recreational activities. Finally, the importance of forests is not only economic but social and environmental.