The Economic Impact Study on the Phosphorus Management Tool (PMT) has been released. The Maryland Department of Agriculture (MDA) commissioned the study to better understand the economic impacts the PMT will have on farmers and on Maryland’s economy. MDA provided a copy of the report to the General Assembly’s House and Senate Budget Committees; the Senate Education, Health, Environmental Affairs Committee; as well as the House Environmental Matters Committee for review and a 45-day comment period.
The study assessed all available economic and financial data and information related to the proposed PMT implementation, including the potential costs, potential benefits, and other related decision-points, from the perspective of all interested stakeholders. While there is no one single figure representing the economic impact, the study considers specific variables at various levels resulting in a range of both costs and benefits.
Statement Attributable to MDA Secretary Buddy Hance:
“MDA is analyzing all information this widely-anticipated comprehensive study contains. The study provides valuable insight as we consider next steps related to the phosphorus management tool. MDA does not intend to make any further comments on the study until our analysis is complete.
“We appreciate the work of Dr. Memo Diriker and his team of advisors on this highly informative study. We will continue to work to understand the findings and balance the need to restore the Bay with reasonable protections for Maryland family farms.
“MDA has set up an email address PMTinfo.mda@maryland.gov for anyone who has questions about the report.”
The report is available online at:
http://www.mda.maryland.gov/documents/pmt-analysis.pdf.
A copy of Dr. Diriker’s briefing presentation is available online at:
http://www.mda.maryland.gov/Documents/PMT_Study_Briefing_07NOV2014.pdf
A “Frequently Asked Questions” document is available online at: http://www.mda.maryland.gov/documents/pmtfaqs.pdf .