DNR’s latest economic forecast makes only minor revisions to the department’s revenue expectations for upcoming quarters — which is not particularly good news. The November 2011 DNR Economic and Revenue Forecast raises the department’s expected revenue from timber for the 2011-13 Biennium by 1 percent from the previous outlook. Projected timber revenue in the 2013-15 Biennium is lowered slightly. DNR economists base their outlook on the probability that the U.S. housing market will not see a significant recovery for several years. They also anticipate an easing of the hot export market to China for logs harvested from private lands (state law prohibits export of unprocessed logs from state trust lands).
DNR also generates revenue for state trusts from other sources, including agricultural leasing, aquatic leases, commercial sites and other sources, but timber sales account for a substantial majority of the total revenues.
With this latest forecast, DNR raises its anticipated timber revenues for the 2011-2013 Biennium from $359.5 million to $361.5 million. The Forecast, which is published quarterly, also lowers the expected revenue for the 2013-2015 Biennium by 5 percent, from $403.3 to $384.9 million. A substantial portion of these revenues go to state trust land beneficiaries including public school construction, universities and several counties.
|Follow DNR on:|