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.