Foreign ownership of U.S. ag land grows

1.6 million acres added by foreign investors in 2023

Foreign ownership of agricultural land in the United States grew by 1.6 million acres from 2022 to 2023, reaching a total of 45.58 million acres or 3.61% of privately held agricultural land.

Renewable energy projects were a major driver of this growth, as reported by the American Farm Bureau Federation (AFBF).

Daniel Munch of AFBF highlighted that Canadian investors hold the largest share at 33.5% (15.35 million acres), followed by investors from the Netherlands, Italy, and the United Kingdom.

Interestingly, Chinese ownership of agricultural land decreased by 11% to 277,336 acres, continuing a decline from its 2021 peak.

“Since 2010, foreign renewable energy investments in U.S. agricultural land have increased by at least 10.4 million acres — a 353% rise,” the AFBF noted. This includes land used for wind and solar energy, with 70% categorized as cropland.

Texas leads with 5.7 million acres of foreign-held land, primarily tied to the timber and forest products industry. Maine follows with 3.5 million acres, representing 21% of its agricultural land.

Other states like New Mexico, Arkansas, and Oregon also saw significant increases due to wind energy and timber investments.