|
the total adjusted current value in table 7 should be a better measure of value

then that of table 6. The total adjusted current value by State indicates a
5-percent decrease from the reported current value.

Country of Origin. Of the 12|,484,738 acres of foreign-held agricultural land
reported by foreign persons, 60 percent is held by U.S. corporations with foreign
interests. The remaining 40 percent is held by foreign persons not connected
with a U.S. corporation (table 8).

U.S. corporations with United Kingdom (U.K.) interests own the largest amount of
reported foreign-held acres of U.S. agricultural land, 2,490,484 acres, or 20
percent. Adding to this, 289,402 acres owned by foreign persons from the United
Kingdom not connected with a U.S. corporation raises U.K. ownership to 22 percent
of all of the reported foreign-held acres. Foreign persons from Canada, France,
and West Germany own 2,498,177 (20 percent), 1,135,661 (9 percent), and 1,130,697
(9 percent), respectively, an additional 38 percent. Foreign persons from the
Netherlands Antilles, the Netherlands, and Switzerland own an additional 13 per-
cent of the acres. These seven countries of origin own a total of 9,209,887
acres, or 74 percent of all reported foreign-owned holdings of U.S. agricultural
land. Approximately 4 percent of the acreage, 505,327 acres, is owned by
unidentifiable third tier persons; that is, the acreage is not attributable to
any foreign country of origin because no foreign country of origin is listed
through the third tier of ownership.

Foreign persons from the United Kingdom, West Germany, Canada, the Netherlands
Antilles, and Switzerland own 2,582,247 acres or 58 percent of the foreign-held
acres in the South (table 9)1 Ten percent of the acreage, 431,739 acres, is
owned by unidentifiable third tier foreign persons. An additional 17 percent,
769,846 acres, is owned by foreign persons from France, Mexico, Liechtenstein,
Panama, and the Netherlands.

In the West, foreign persons| from the United Kingdom own more acres than any
other single group--31 percent. Much of the U.K. figure is attributable to one
U.S./U.K. corporation that owns 30 parcels covering 794,460 acres, and to an-
other U.S./U.K. corporation that owns 8 parcels covering 229,988 acres. Foreign
persons from Canada, West Germany, the Netherlands, and the Netherlands Antilles
reported owning 1,532,008 acres or 35 percent. An additional 842,425 acres, or
19 percent, were reported by, foreign persons from Luxembourg, Liechtenstein,
Japan, Mexico, and Panama.

In the Northeast, foreign persons from Canada, France, and the United Kingdom
own 2,277,155 acres, or 91 percent of the foreign-held acreage in the region.
Eighty-three percent of this figure, 1,883,756 acres, is attributable to four
companies with extensive forest holdings--one Canadian company with partial
interests in 16 parcels covering 596,262 acres, one Canadian company with 1
parcel covering 231,600 acres, one U.S./France corporation with 28 parcels
covering 810,949 acres, and jone U.S./U.K. corporation with 19 parcels covering
244,945 acres.

In the North Central region! foreign persons from Canada, the United Kingdom,
and West Germany reported owning 759,156 acres, or 63 percent of the foreign-
held acres in the region. ‘Twelve percent of the acreage is owned by U.S./mul-
tiple entities, U.S. corporations that have foreign owners from a number of
countries, none of whom has|a predominant interest in the corporation.

12



U.S./Canada corporations purchased most of the U.S. forest land or forest and
other nonagricultural lands (table 28), accounting for 83 percent of such
acquisitions, 83,155 acres.

Corporations account for the largest number of owners reporting acquisitions of
forest land or forest and other nonagricultural land--63 percent of the owners
reported acquiring 71 percent of the parcels covering 90 percent of the acrés
(table 29). Twenty-five percent of the owners were individuals who reported
acquiring 20 percent of the parcels, but only 4 percent of the acres.

TABLE 28--U.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS
BY COUNTRY OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1988

OWNERS PARCELS ACRES VALUE
COUNTRY REPORTING | REPORTED | (NUMBER) (4,000
(NuMBER) | (NUMBER) DOLLARS) 4/

ARGENTINA 1 1 147 155
CANADA 1 2 500 250
EGYPT 1 1 23 47
GERMANY (WEST) 3 3 2,267 1,413
LIECHTENSTEIN 1 1 144 31
SAUDI ARABIA 1 1 314 530
SWEDEN 1 1 104 440
TAIWAN 1 1 96 187
UNITED KINGDOM 4 4 7,255 1,574
THIRD TIER 1 1 34 100

SUBTOTAL 2/ 15 16 10,851 4,727
US/BRITISH VIRGIN

ISLANDS 1 1 454 300
US/CANADA 4 8 83,155 19,810
US/DENMARK 1 1 160 105
US/ FRANCE 3 6 2,046 298
US/GERMANY (WEST) 1 1 22 180
US/GREECE 1 1 147 600
US/JAPAN 4 4 1,344 14,882
US/UNITED KINGDOM 5 7 1,968 2,021

SUBTOTAL 3/ 20 29 89,290 38,196
TOTAL 35 45 100, 144 42,923

4/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

2/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS.

3/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

TABLE 29--U.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS
BY TYPE OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1988

(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS | ACRES PARTIAL ACREAGE

REPORTING] REPORTED INTERESTS EQUIVALENT 2/

REPORTED 1/
INDIVIDUAL 3 9 3,836 ° 3,836
CORPORATION 22 32 89,904 2 89,054
PARTNERSHIP 3 3 6,367 ° 6,367
TRUST 1 1 34 ° 34
TOTAL 35 45 100,144 2 99,291

4/_ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR: THAT IS, A PERCENTAGE INTEREST
LESS THEN 100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED
BY THE PERCENTAGE HELD BY THE FOREIGN OWNER.

33


acquired the remaining 69 percent (table 23). U.S./Canada corporations acquired
30 percent of the acreage, 86,670 acres; followed by foreign persons from Japan
with 23 percent, or 65,083 acres; and foreign persons from France with 11 per-
cent, or 30,327 acres.

TABLE 23--U.S. AGRICULTURAL LAND ACQUISITIONS BY COUNTRY OF FOREIGN OWNER,
JANUARY 1 - DECEMBER 31, 1988

OWNERS PARCELS ACRES VALUE
COUNTRY REPORTING | REPORTED (NUMBER ) (1,000
(NUMBER ) (NUMBER ) DOLLARS) 1/

ARGENTINA 1 1 147 155
BERMUDA 2 2 182 1,190
CANADA 16 19 1,228 12, 102
EGYPT 1 2 55 105
FRANCE 3 4 15,250 4,755
GAMBIA 1 1 294 118
‘GERMANY (WEST) 23 28 10,510 11,048
ITALY 1 1 160 210
JAPAN 8 9 27,319 86,942
JORDAN 1 1 27 441
KOREA (SOUTH) 1 1 100 325
LEBANON 2 2 1,458 2,752
LIECHTENSTEIN 3 4 16,643 9,548
MALAYSIA 1 1 1,933 3,850
MEXICO 1 1 57 132
MONTSERRAT 1 1 145 125
NETHERLANDS, 4 4 742 2,313
PANAMA 1 1 20 945
SAUDI ARABIA 3 3 789 6,455
SOUTHERN RHODESIA 1 1 230 80
‘SWEDEN 1 1 101 440
SWITZERLAND 41 4 3,126 3,836
TAIWAN 1 1 96 187
TRINIDAD & TOBAGO 1 1 58 40
UNITED KINGDOM 8 9 7,930 3,352
VENEZUELA 1 1 320 800
MULTIPLE 1 1 103 928
THIRD TIER 3 3 308 820

SUBTOTAL 2/ 102 145 89,331 153,994
US/BAHAMAS 1 1 9339 153
US/BARBADOS 1 1 41 336
US/BELGIUM 1 1 199 50
US/BERMUDA 2 5 563 7,724
US/BRAZIL 1 1 200 380
US/BRITISH VIRGIN

ISLANDS 1 1 451 300
US/CANADA 10 16 86,670 33,389
US/CHILE 1 2 9,738 987
US/COLOMBIA 1 1 2,359 3,397
US/DENMARK 1 1 160 105
US/FRANCE 7 14 15,077 3,739
US/GERMANY (WEST ) 7 7 1,042 2,279
US/GREECE 1 1 147 600
US/HONG KONG 4 4 97 1,667
US/ITALY 2 2 3,680 4,439
US/UAPAN 26 33 37,764 39,462
US/LIECHTENSTEIN 1 1 14 195
US/MEXICO 2 3 4,594 2,347
US/NETHERLANDS 7 28 14,484 3,100
US/PANAMA 1 1 274 1,705
US/SAUDI ARABIA 1 1 40 250
US/SPAIN 1 i 356 3,520
US/SWITZERLAND 13 17 11,674 32,513
US/UNITED KINGDOM 14 26 6,405 16,431
US/MULTIPLE 3 6 1,410 5,346

SUBTOTAL 3/ 107 172 198,432 164,414
TOTAL ALL

LAND ACQUISITIONS 209 287 287,763 318,408

4/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).
2/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN

SHAREHOLDERS .
3/ TOTAL INTERESTS OF U.S: CORPORATIONS WITH FOREIGN SHAREHOLDERS.

29


Land Use

Six percent of the dispositions were cropland, 8 percent pasture, 84 percent
forest, and 1 percent each dther agriculture and other nonagriculture (table 39).
Unidentified third tier foreign persons not associated with a U.S. corporation
Foreign persons from the Netherlands

disposed of 26 percent of the cropland.

Antilles disposed of 38 percent of the pasture land.
and foreign persons from Fran

TABLE 37--DISPOSITIONS OF U.S.

U.S./U.K. corporations

ce disposed of 92 percent of the forest land.

opNER » JANUARY 1

- DECEMBER 31, 1988

AGRICULTURAL LAND BY COUNTRY OF FOREIGN

OWNERS PARCELS SELLING
COUNTRY REPORTING | REPORTED ACRES PRICE
(NUMBER ) (NUMBER ) (NUMBER ) (41,000
DOLLARS) 1/
AUSTRIA 1 1 80 40
BAHAMAS 1 1 17 90
BERMUDA 3 4 13,883 7,938
BRITISH VIRGIN ISLANDS 1 2 170 6,099
CANADA 26 32 8,365 6,686
COLOMBIA 3 3 6,220 9,868
DOMINICAN REPUBLIC 1 1 18 ait
EGYPT 4 1 287 172
FRANCE 3 3 16,794 3,296
GERMANY (WEST) 17 35 4,995 9,343
GUATEMALA 1 2 10 1,400
HONG KONG 2 4 448 3,023
IRAN 1 2 163 180
IRAQ 2 4 35 63
ITALY 1 1 1,140 2,100
UAPAN 1 1 277 10,300
LEBANON 1 1 801 802
LIECHTENSTEIN 3 5 2,474 2,240
MEXICO 3 3 402 1,799
NETHERLANDS 7 9 415 484
NETHERLANDS ANTILLES 17 39 17,790 27,364
PANAMA 3 9 1,334 9,989
SAUDI ARABIA 1 2 6 15
SWITZERLAND 12 14 4,122 4,042
TRINIDAD & TOBAGO 1 2 10 110
TURKS ISLANDS 1 1 1,270 295
UNITED KINGDOM 2 2 143 174
URUGUAY 2 4 3,551 3,250
VENEZUELA 4 9 601 500
THIRD TIER 2 2 11,740 13,710
SUBTOTAL 2/ 124 199 97,615 125,783
US/BAHAMAS 1 3 5,940 726
US/BELGIUM 1 1 140 450
US/BRITISH VIRGIN
ISLANDS 1 6 9,590 3,276
US/CANADA 8 25 4,981 15,855
US/CAYMAN ISLANDS 1 1 179 72
US/EGYPT 1 1 234 1,806
US/FRANCE 7 37 133, 104 22,001
US/GERMANY (WEST) 6 8 860 744
US/HONG KONG 1 2 640 324
US/JAPAN 2 2 308 669
US/LIECHTENSTEIN 2 3 436 4,292
US/NETHERLANDS 7 9 12,049 3,798
US/NETHERLANDS ANTILLES 3 4 9,348 3,646
US/SWEDEN 1 6 723 1,083
US/SWITZERLAND 8 17 2,192 3,739
US/UNITED KINGDOM 24 154 298,921 118,806
US/VENEZUELA 2 2 104 155
US/MULTIPLE 1 5 9 15
SUBTOTAL 3/ 17 286 479,758 178,457
TOTAL ALL
LAND DISPOSITIONS 201 485 577,373 304,240

|
4/ SELLING PRICE IS VALUE AT TIME OF DISPOSITION.

2/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN

SHAREHOLDERS.

3/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

38



oy
D
Q
a
2
3}

),000-199,999

,000-399,999
),000 & over

eo

State Concentration of Foreign Ownership of Agricultural Land, December 31, 1988

Figure 1

y Owned Agricultural Land in the

ultural Land to All Privatel

Proportion of Foreign-Owned Agric
United States, December 31, 1988

Less than .1%
2.0% or more

Legend: Percentage



P.L. 95-460 authorizes collection of the data ‘on this form. The data will be used to determine the effects of foreign persons ac-
quiring, transferring and holding agricultural land, and the effects of such activity on family farms and rural communities. Furn-
noel) ishing the data is mandatory. Failure to\comply or falsification of reporting is subject to civil penalty, not to exceed 25 percent
of the fair market value of the interest held in the tract on the date of the assessment of such penalty. The data may be furn-
ished to any Agency responsible for enforcing the provision of the Act and to the public.
DETERMINATION OF “FOREIGN PERSON” STATUS

DEFINITION: “Person” means any individual, corporation, ‘company, association, firm, partnership, society, joint stock company, trust, estate, or any other
legal entity.
Yousrea "foreign person” under the provisions of P.L. 95-460 and must complete the front side of this form (ASCS-183) if your answer is “NO” to all the

statements numbered 1, 2, and 3 below. | [ves[ No

7. LAM a citizen of the United States. l
> TAM a citizen of the Northern Mariana Islands or the Trust Territories of the Pacific Islands.

31 AM lawfully admitted to the United States for permanent residence, or paroled into the United States, under the Immigration and
Nationality Act.

You are a “foreign person” under the provisions of P.L. 95-460 and must complete the front side of this form (ASCS-153) if your answer is “YES” to any of
the statements numbered _4a, 4b, and 5 below. i [Yes] No

4, AMa “person” other than an individual or government, which is created or organized under the laws of:
a. A foreign government of which has its principal place of business located outside the United States.

'b. Any State of the United States, and in which significant interest or substantial control 1/ is held directly or indirectly by any
foreign individual, government, or person. °

§, 1 AM a foreign government.

1 GENERAL INSTRUCTIONS.

Complete this form in an original and three copies for each tract of land. Insertion of carhonsis necessary. Report asa tract al acreages under the same owner-
Sabin each county or parish acquired or traneferred on the same date, Land in different counties or parishes and land aoquired or transferred on different dates
must be reported as separate tracts.

Return the original and two copies to the County Agricultural Stabilization and Conservation Service (ASCS) Office where the tract of land is located. Retain
BIE copy (Foreign Person Copy) for your records. 00 NOT SEND THIS FORM DIRECTLY TO WASHINGTON, D.C.

After the original disclosure on ASCS-153 on the tract(s) of land owned by the same person within 2 county or Parish, each subsequent change of ownership
or use must be reported by filing another ASCS-153.

TTEM INSTRUCTIONS AND REPORTING DATES
T
ITEM 1. ONLY ONE BOX MAY BE CHECKED

If the tract of land to be listed under Item 2 on the front side of this document was:

Owned on February 1, 1979, check ®-2%Sn (J) } Reporting Date: This document is required to be
completed and returned by August 1, 1979.

If the tract of land to be listed under Item 2 on the front side of this document was, on or after February 2, 1979:
Acquired, check ® t2Siston GZ) Reporting Dat.

Disposed of check © 44°2uni0n WZ] If any of these activities are checked
Changed from non-agricultural to agricultural use, check °'Fe"Rurcutre in Item 1, return the completed
ed a oe fen ‘ASCS.153 within ninety (90) days

Changed from agricultural to non-agricultural use, check €.,ane.vr.crarze *® (VV from the date of the transaction.

ITEM 8. ‘The date entered would be as follows for the activity checked in Item 1:

Box A or B~ Date acquired.
BoxC Date disposed of.
Box D or E~ Date land use changed.-

ADDITIONAL INFORMATION (Use additional sheets if more space is needed)

J/ Significant interest or substantial control as defined in 7 CFR 781.2 (k).

‘US. Government Printing Otfice: 1985—567.262
U.S. Governnent Printing Office : 1989 - 241-793/80647

4h



TABLE 9--FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LANDHOLDINGS BY U.S. REGION,
DECEMBER 31, 1988--CONTINUED
(NUMBER)
|
SOUTH west NORTHEAST NORTH CENTRAL
COUNTRY i

URUGUAY 1 1,552 2 320 1 127 5 9,498
U.S.S.R. ° ° 1 80 3 758 ° °
VENEZUELA tos | 16,595 1 537 27 5,586 4 2,636
VIETNAM 1 152 ° ° ° ° ° °
YUGOSLAVIA 4 863 1 1 ° ° 1 160
MULTIPLE 39 7,698 25 414,159 4 1,989 1 208
THIRD TIER 454 143,512 9 56,555 ° ° 4 12,594

SUBTOTAL 1/ 3,829 1,/834,790 2.380 1,608,734 1,304 1,156,269 4,071 452,062
US/ANDORRA ° ° 1 3,744 ° ° ° °
US/ARGENTINA 2 580 ° ° ° ° 2 3,560
US/AUSTRALTA 2 479 1 37 2 125 3 642
US/AUSTRIA 6 1,863 3 13,710 1 12 ° °
US/BAHAMAS 13° | 25.787 1500 -33,215 4 4,917 5 4,207
US/BARBADOS ° ° 4 44 ° ° ° °
US/BELGIUM 29 | 24,493 5 35,417 T 231 24 6,229
US/BERMUDA 50 | 28,378 4 8.561 9 1,315 3 430
US/BRAZIL 6 6.402 ° ° ° ° 20 3,989
US/BRITISH VIRGIN

ISLANDS 6 2,805 2 480 ° ° ° °
US/CANADA age |349,224 304 211,648 77 164,957 117 358,786
US/CAYMAN ISLANDS 16 9,083 1 4,341 1 250 1 70
US/CHILE ° ° 3 9,929 ° ° ° °
US/CHINA ° ° 1 322 ° ° °
US/COLOMBIA 7 7.444 ° ° 1 160 ° °
US/DENMARK 3 998 4 1,006 ° ° ° °
US/ECUADOR 2 1,549 ° ° ° ° ° °
US/EGYPT 8 11744 3 249 ° ° ° °
US/EL SALVADOR 1 12 ° ° ° ° ° °
US/F INLAND 4 3,047 ° ° ° ° ° °
US/FRANCE 192 | 176,052 36 1,764 52 851,817 17 16,046
US/GERMANY (WEST) 228 | 198,904 34 229,217 47 13,605 82 28,779
US/GREECE 2 1,715 2 4,957 ° ° 2 244
US/GUATEMALA 3 412 ° ° ° ° ° °
US/GUYANA 2 334 ° ° ° ° ° °
US/HONDURAS 1 37 ° ° ° ° ° °
US/HONG KONG 3 4,948 5 1,108 ° ° ° °
US/TRAN 5 1,290 4 1,012 ° ° ° °
US/TRAQ ° ° 2 960 ° ° ° °
US/TRELAND 6 2,918 ° ° ° ° ° °
US/ITALY 7 8.313 1 160 5 803 2 391
US/JAPAN as | 16,222 41 44,009 5 1,978 43 8,922
US/KOREA (SOUTH) ° ° 1 75 ° ° ° °
US/KUWAIT 5 494 4 6,066 1 772 3 296
US/LEBANON 4 550 ° ° 2 153 ° °
US/LIBERIA 9 5,120 3 17,973 7 6,852 ° °
US/LIBYAN ARAB REPUBLIC ° ° 3 280 ° ° ° °
US/LIECHTENSTEIN 33 | 23,696 46 137,856 4 760 8 7,051
US/LUXEMBOURG 4 9,792 15 222,241 1 94 4 784
US/MALAYSIA ° ° 1 300 ° ° ° °
US/MEXICO 20 | 16,833 144 72,755 ° ° ° °
US/NETHERLANDS 141 | 69,570 205 274,488 20 6.165 263 30,098
US/NETHERLANDS ANTILLES 129 | 187,636 39 30,497 5 1,390 280 12,125
US/NEW HEBRIDES 1 2,108 1 883 ° ° ° °
US/NEW ZEALAND 3 594 ° ° ° ° ° °
US/NICARAGUA 2 282 ° ° ° ° ° °
US/NORWAY 3 180 ° ° 2 172 ° °
US/PANAMA so | 33.825 19 32,479 12 4,868 12 3,972
US/PHILIPPINES 3 1,225 2 223 1 631 ° °
US/PORTUGAL 2 11683 ° ° ° ° ° °
US/SAUDI ARABIA a6 | 18.535 ° ° ° ° 8 1,388
US/SOUTH AFRICA 2 3,309 ° ° ° ° ° °
US/SPAIN 2 252 9 2,320 2 1,548 ° °
US/SWEDEN 5 2,405 ° ° 1 107 5 912
US/SWITZERLAND 180 | 147,903 99 60,769 25 39,918 54 19,093
US/TAIWAN 1 54 40 6.665 ° ° 1 31224
US/THATLAND ° ° 3 252 ° ° ° °
US/TRINIDAD & TOBAGO 1 20 ° ° ° ° ° °
US/TURKEY 2 443 ° ° ° ° ° °
US/UNITED ARAB EMIRATES 7 1,705 ° ° ° ° ° °
US/UNITED KINGDOM 243 | 938,245 128 1,227,115 72 226,627 185 98,497
US/URUGUAY 1 578 ° ° ° ° 1 40
US/VENEZUELA as | 36,032 4 1,500 6 844 ° °
US/MULTIPLE 33 | 11,184 9 7,500 4 17,609 18 142,614
US/THIRD TIER 113 | 288,227 8 3,431 ° ° 3 1,008

SUBTOTAL 2/ 2,240 2,617,450 1,130 2,714,552 376 1,347,480 885 753,407
TOTAL ALL

LANDHOLDINGS 6.069 4,452,240 3,510 4,323,286 1,680 2,503,743 1,956 1,205,469

|/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

16



Owners of parcels with less
acquiring 73 percent of the
forest and other nonagricultural lands (table 30).
the owners, owning parcels with 1,000 or more acres, reported acquiring 27 per-

cent of the parcels covering 93 percent of these lands.

Intended Use

Reports for 91 percent of the acres indicated no change in land use (table 31).
Intended changes to other agricultural and nonagricultural uses were reported for
Because the form asks for changes by
parcels and not acres, all of these acres may not be affected by the indicated
changes. No reports on intended use were received for 4 percent of the acres.

holders of 5 percent of the

Tenure

Tenants operate 32 percent of the parcels acquired during the period and 24

percent of the acres, whereas foreign owners operate 26 percent of the parcels
and 16 percent of the acres|
percent of the parcels and 11 percent of the acres.
received for 36 percent of the parcels covering 49 percent of the acres.

TABLE 30--FOREIGN ACQI

acquired acres.

(table 32).

UISITIONS OF U.S.

LAND BY SIZE oF ACQUISITION, JANUARY 1

Managers, however,

than 1,000 acres, 80 percent of the owners, reported
parcels covering only 7 percent of the forest or
The remaining 20 percent of

FOREST AND OTHER NONAGRICULTURAL
- DECEMBER 31, 1988

operate only 6
No responses on tenure were

SIZE owlers PARCELS ACRES VALUE
(ACRES) REPORTING REPORTED (NUMBER ) (4,000
(NUMBER) (NUMBER ) DOLLARS) 1/
i

. LESS THAN 20 4 4 7 68
20-59 6 6 200 432
60-99 2 4 170 243
100-299 8 8 1,271 14,598
300-999 4 14 5,631 5,269
4000 OR MORE 7 12 92,862 22,313
TOTAL 35 45 100,141 42,923

4/| VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 31--INTENDED USE OF U.S.

AGRICULTURAL LAND ACQUISITIONS OF FOREIGN OWNERS

UANUARY 1 - DECEMBER 31, 1988
(NUMBER)
ITEM sb CHANGE OTHER OTHER NON- | NO REPORT TOTAL
AGRICULTURE | AGRICULTURE

INDIVIDUAL:

PARCELS REPORTED 49 1 6 °

ACRES 10, 106 254 2,348 ° 12,705
ORGANIZATION:

PARCELS REPORTED 179 10 36 6

ACRES 252,828 1,985 10,314 9,931 275,058
TOTAL:

PARCELS REPORTED 228 14 42 6

AGRES 262,934 2,236 12,662 9,931 287,763

34



Table

10.

ll.

12.

13.

14,

15.

16.

17.

LIST OF TABLES

U.S. agricultural landholdings of foreign owners by State,
December 31, 1988 ©. 2... 1 ee ee ee ee eee ee

U.S. agricultural landholdings by type of foreign owner, December 31,

Foreign owners of U.S. agricultural landholdings by State, December 31,

1988 2. ee ee

Foreign-owned U.S. agricultural landholdings by size of holding,
December 31, 1988 we ee ee wee eee

Value of U.S. agricultural Lendholding by type of foreign owner,
December 31, 1988 a

Value of foreign-owned U.S. agricultural landholdings by date of
acquisition, December 31, 1988 .... ee . see

Value of foreign-owned U.S. agricultural landholdings by State,
December 31, 1988

U.S. agricultural landholdings by country of foreign owner, December
31, 1988 . .

Foreign ownership of U.S. agricultural landholdings by U.S. region,
December 31, 1988 2. 2. 1... ee ee ee ee

Foreign-owned U.S. agricultural landholdings by type of interest,
method of acquisition, and owner-representative, December 31, 1988 .

Use of U.S. agricultural landholdings by country of foreign owner,
December 31, 1988

U.S. forest and other nonagricultural landholdings of foreign owners
by State, December 31, 1988 ...........

U.S. forest and other nonagricultural landholdings by country of
foreign owner, December 31, 1988 . sone we ee ots

U.S. forest and other nonagricultural landholdings by type of foreign
owner, December 31, 1988 . o- .

Foreign-owned U.S. forest and other nonagricultural landholdings by
size of holding, December 31, 1988 .

Intended use of U.S. agricultural landholdings of foreign owners,
December 31, 1988

Tenure of foreign-owned U.S. agricultural landholdings, December 31,
1988 .

-10

11

13

215

-17

19

.21

-22

+23

.23

~24

+24


The largest acreage acquired by individuals during the period was reported for
Georgia and Colorado (table 20). Organizations reported acquiring the largest
acreage in Colorado, Minnesota, and Florida.

Size of Acquisition. The largest number of owners reported their acquisitions in
the range of 100 to 999 acres (table 21). Owners of parcels with 1,000 acres or
more (14 percent of the owners) acquired approximately 86 percent of the acres
and owners of parcels with less than 1,000 acres (86 percent of the owners)
acquired the remaining 14 percent of the acres. All parcels of 1,000 .or more
acres accounted for 45 percent of the total value. The value per acre, however,
is concentrated in the reports of holders of less than 20 acres--$14,867 per
acre, compared with $574 per acre for holdings of 1,000 or more acres.

Purchase Price and Value of Acquisitions. Corporations account for 62 percent of

the purchase price and nonpurchase price (estimated value) at time of acquisi-
tion (table 22). The average per acre purchase price and nonpurchase price (es-
timated value) is lowest for corporations at $915; followed by individuals,
$1,566; partnerships, $1,645; and others, $4,331.

TABLE 20--FOREIGN OWNERS OF U.S. AGRICULTURAL LAND ACQUISITIONS BY STATE,
JANUARY 1 - DECEMBER 31, 1988

(NUMBER )
INDIVIDUAL ORGANIZATION
STATE
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES
REPORTED REPORTED

ALABAMA ° ° 8 14,946
ARIZONA ° ° 3 3,350
ARKANSAS 3 334 4 15,719
CALIFORNIA 4 2,367 27 4,833
COLORADO 3 1,259 27 58,692
FLORIDA 4 95 13 40,121
GEORGIA 5s 2,408 14 4,758
HAWAIT ° ° 3 1,030
ILLINOIS. 2 220 7 900
INDIANA ° ° 3 700
IOWA ° ° 1 78
KENTUCKY 4 706 8 3,107
MAINE 1 65 5 17,900
MARYLAND ° ° 3 287
MICHIGAN 1 58 3 1,634
MINNESOTA ° ° 6 53,760
MISSISSIPPI ° ° 10 10,042
MISSOURI ° ° 1 32
NEW HAMPSHIRE 1 101 ° °
NEW JERSEY ° ° 2 142
NEW MEXICO 1 309 ° °
NEW YORK 3 301 5 B89
NORTH CAROLINA 1 112 6 343
OHIO ° ° 9 5,681
OREGON 1 12 3 952
PENNSYLVANIA oO ° 1 512
SOUTH CAROLINA 1 251 T 2,634
TENNESSEE 1 57 ° °
TEXAS 5s 1,334 13 11,287
VERMONT 6 1,672 6 6,511
VIRGINIA 5 402 18 2,508
WASHINGTON 2 55 10 593
WISCONSIN 2 587 2 383
WYOMING ° ° 3 10,737

TOTAL 56 12,705 231 275,058

27


TABLE 8--U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,

DECEMBER 31, 1988
(NUMBER)

COUNTRY OWNERS PARCELS ACRES
ARGENTINA 37 43 13,256
AUSTRALIA 13 18 3.558
AUSTRIA 51 78 55,989
BAHAMAS 29 43 32,176
BAHRAIN 5 5 553
BELGIUM a1 wnt 62,871
BELIZE 6 8 1,400
BERMUDA a7 63 73,436
BOLIVIA 2 2 4
BRAZIL 4 7 4,624
BRITISH VIRGIN ISLANDS 26 39 32.461
CANADA 1,668 2,068 1,414,162
CAYMAN ISLANDS 48 55 24,228
CHILE 3 3 436
CHINA 5 6 485
COLOMBIA 34 35 8,057
COSTA RICA 9 13 15,579
cuBA 2 2 20
CZECHOSLOVAKIA 4 5 485
DENMARK 18 22 9,226
DOMINICAN REPUBLIC 14 12 2,129
ECUADOR 25 32 1,050
EGYPT 1 13 1,747
EL SALVADOR 3 4 235
FRANCE 139 159 83,982
GAMBIA 1 4 29.
GERMANY (WEST) 1,080 1,657 720,192
GREECE 17 20 57,227
GUATEMALA, 9 "1 B44
GUYANA 1 1 35
HONDURAS: 14 4 892
HONG KONG 63 94 18,318
HUNGARY 1 2 110
INDIA 12 14 1,688
INDONESIA 4 6 824
IRAN 28 at 3,961
IRAQ 1 1 1,140
IRELAND 12 17 11,090
ISRAEL 6 6 991
ITALY 27 at 82,418
IVORY COAST 1 4 119
UAMAICA 3 3 4,624
UAPAN 46 54 146,604
JORDAN 16 23 2,304
KENYA 1 1 32
KOREA (SOUTH) 5 5 585
KUWAIT 7 8 1,568
Laos 1 1 31
LEBANON . 34 46 13,793
LIBERTA 22 29 33,237
LIBYAN ARAB REPUBLIC 4 2 302
LIECHTENSTEIN 118 187 177,624
LUXEMBOURG 7 10 6,485
MALAYSIA 3 g 2,809
MEXICO 212 286 238,340
MONTSERRAT 1 1 145
MOROCCO 2 6 17,035
NAMIBIA 1 2 146
NETHERLANDS 474 715 130,341
NETHERLANDS ANTILLES 378 477 447,744
NEW ZEALAND 2 2 350
NICARAGUA 2 3 1,348
NIGERIA 1 1 14
NORWAY 24 at 5,506
OMAN 2 5 454
PAKISTAN 7 9 2,171
PANAMA 153 222 200,286
PERU 20 24 29
PHILIPPINES 33 47 3,233
POLAND 1 1 147
PORTUGAL 4 5 B16
ST VINCENT 2 4 2,637
SAUDI ARABIA 42 59 35,987
SINGAPORE 6 6 1,048
SOUTH AFRICA 4 5 1,698
SOUTHERN RHODESIA 1 1 230
SPAIN 14 14 1,798
SWEDEN 22 27 6,518
SWITZERLAND 346 455 207,762
SYRIA 7 10 4,847
TAIWAN 24 29 6,366
TANZANIA 2 2 10,143
THAILAND 2 4 240
TRINIDAD & TOBAGO 4 4 134
TURKEY 2 2 558
TURKS ISLANDS 8 12 3,192

CONTINUED ~~

13


TABLE 11--USE OF U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,
DECEMBER 31, 1988

(ACRES)
COUNTRY CROPLAND PASTURE FOREST OTHER [OTHER NON- TOTAL
AGRICULTURE | AGRICULTURE
ARGENTINA 3,485 752 135 426 13,256
AUSTRALIA 1,058 535 828 621 3,558
AUSTRIA 34/881 17,264 650 589 55,989
BAHAMAS, 10,950 7.409 2,172 2.521 32,176
BAHRAIN 549 ° ° 4 553
BELGIUM 4,710 1,592 1,620 1,472 62,871
BELIZE 776 232 55 52 1,400
BERMUDA 6,340 47,224 1,185 2,016 73,436
BOLIVIA 10 ° ° 1 ° 4
BRAZIL 385 303 35 431 467 1,624
BRITISH VIRGIN ISLANDS 5,106 4,409 20,295 2.476 175 32,461
CANADA 172,007 175,368 938,616 37,573 90,598 1,414,162
CAYMAN ISLANDS, 12,705 5,866 3,023 1,970 664 24,228
CHILE 196 ° ° 240 436
CHINA 182 70 27 168 485
COLOMBIA 1,138 6,444 37 316 8,057
COSTA RICA 6,589 4,150 100 1,187 15,579
cuBA 5 ° 3 12 20
CZECHOSLOVAKIA 257 153 30 30 4B5
DENMARK 5,951 623 2,042 118 9,226
DOMINICAN REPUBLIC 2,008 ° ° 4 2,129
ECUADOR 207 92 ° 686 1,050
EGYPT 336 930 372 96 4,747
EL SALVADOR 57 ° 129 ° 235
FRANCE 25,783 22,622 6,573 22,109 83,982
GAMBIA ° 294 ° ° 294
GERMANY (WEST) 316,936 135,483 205,898 29,097 720,192
GREECE 1,190 55.651 174 10 57,227
GUATEMALA 158 201 175 35 B44
GUYANA ° ° ° 35 35
HONDURAS, B15 17 ° 60 892
HONG KONG 2,833 4,236 4,433 5,894 18,918
HUNGARY ° ° ° 103 110
INDIA 349 70 840 404 1,688
INDONESIA 150 312 26 283 824
IRAN 4,323 542 531 129 3,961
IRAQ ° ° ° ° 1,140
IRELAND 1,487 7,079 20 24 11,080
ISRAEL 350 355 144 129 991
ITALY 29,027 24,092 7,262 8,479 82,418
IVORY COAST ° ° 80 39 119
UAMAICA ° 291 800 17 1,621
UAPAN 20,137 120,449 1,213 3,836 146,604
vORDAN 321 775 255 at 2,304
KENYA 32 ° ° ° 32
KOREA (SOUTH) 115 68 353 at 585
KUWAIT 707 458 125 67 1,568
Laos ° 16 10 5 ° at
LEBANON 5.145 3.837 1,789 1,716 1,306 13,793
LIBERIA 738 23,022 4,298 ° 5,179 33,237
LIBYAN ARAB REPUBLIC ° 15 ° ° 287 302
LIECHTENSTEIN 107,173 29,347 18,787 14,740 7,877 177,624
LUXEMBOURG 2,218 712 2,610 632 313 6,485
MALAYSIA 251 2,556 ° ° 2 2,809
MEXICO 18,502 204,838 2,707 3,507 8,786 238,340
MONTSERRAT 63 40 40 ° 2 145
Morocco 2,922 14,091 ° 482 140 17,035
NAMIBIA 142 ° ° ° 4 146
NETHERLANDS. 49,531 40,443 11,058 18,396 10,913 130,341
NETHERLANDS ANTILLES 178,962 131,105 53605 60,554 23,485 9 447,714
NEW ZEALAND 160 95 ° ° 95 350
NICARAGUA ° 940 248 60 100 1,348
NIGERIA ° ° ° ° 14 14
NORWAY 4,200 507 80 204 515 5,506
OMAN 120 126 126 43 39 454
PAKISTAN 2,138 ° ° ° 33 2,174
PANAMA 80,122 91,132 18,877 15,892 24,263 200,286
PERU 121 13 2 100 55 2914
PHILIPPINES 995 832 228 533 645 3,233
POLAND 72 25 50 ° ° 147
PORTUGAL 497 102 200 ° 17 816
ST VINCENT 295 1,230 1,042 10 60 2,637
SAUDI ARABIA 12,965 7,369 1,806 8,796 4,454 35,987
SINGAPORE ° 468 ° 34 546 1,048
SOUTH AFRICA 207 1,307 ° 164 20 1,698
SOUTHERN RHODESIA 131 30 67 ° 2 230
SPAIN 305 1,078 113 178 124 1,798
SWEDEN 2.780 162 1,887 880 209 6,518
SWITZERLAND 55,862 98,696 20,431 8,572 24,201 207,762
SYRIA 2,819 808 133 370 TAT 4,847
TAIWAN 3,203 1,134 1,018 294 TNT 6,366
TANZANIA 5,000 35 ° 170 4,938 10,143
THATLAND 113 120 7 ° ° 240
TRINIDAD & TOBAGO 24 30 35 ° 42 134
TURKEY 159 283 ° 116 ° 558
TURKS ISLANDS 2,390 391 167 172 72 3,192
UNITED ARAB EMIRATES 287 432 100 1,909 22 2,750
UNITED KINGDOM) 72,539 115,989 17,698 15,048 8,128 289,402
oO CONTINUED ~~

19


TABLE 9--FOREIGN OWNERSHIP OF U.S.

DECEMBER 31, 1988

AGRICULTURAL LANDHOLDINGS BY U.S.

REGION,

(NUMBER)
SOUTH wesT NORTHEAST NORTH CENTRAL
COUNTRY
PARCELS | Acres | PARCELS | acres | ParceLs | acres | PARCELS | ACRES

ARGENTINA 32 6,309 7 5,069 3 1,798 1 80
AUSTRALIA 8 2.003 4 1,398 2 25 3 132
AUSTRIA 52 23,576 10 29,151 3 106 13 3.156
BAHAMAS 27 4.743 6 16,285 8 1,808 2 9.340
BAHRAIN ° ° ° ° ° ° 5 553
BELGIUM 28 8,489 56 51,817 18 1,041 Py 1,524
BELIZE 4 159 1 25 ° ° 3 1,216
BERMUDA 22 © 67,322 5 1,151 7 2.335 29 2.628
BOLIVIA 2 14 ° ° ° ° ° °
BRAZIL 6 1,301 1 320 ° ° ° °
BRITISH VIRGIN ISLANDS 25 6.966 4 4,243 6 7,839 4 13,413
CANADA 360 102. 164 717 3021153 793 948,200 198 61,645
CAYMAN ISLANDS 35 0 15,395 6 2,450 1 74 13 6,309
CHILE 2 276 ° ° ° ° 1 160
CHINA 3 130 2 263 ° ° 1 92
COLOMBIA 34 7,957 ° ° ° ° 1 100
COSTA RICA 4 4589 1 10,840 ° ° 4 150
UBA 2 20 ° ° ° ° ° °
CZECHOSLOVAKIA 2 30 ° ° ° ° 3 455
DENMARK 4 849 8 5,984 5 455 5 1,938
DOMINICAN REPUBLIC 3 50 ° ° ° ° 9 2.079
ECUADOR 32 1,050 ° ° ° ° ° °
EGYPT 4 1,608 1 87 ° ° 1 42
EL SALVADOR 4 235 ° ° ° ° ° °
FRANCE 90 22,407 35 47,486 24 9, 100 13 4,989
GAMBIA 1 294 ° ° ° ° ° °
GERMANY (WEST) 748 334,986 388 208,502 147 40,795 374 135,909
GREECE 7 54,783 1 1,217 2 116 10 44n4
GUATEMALA 7 318 ° ° 4 526 ° °
GUYANA 1 35 ° ° ° ° ° °
HONDURAS 44 892 ° ° ° ° ° °
HONG KONG 36 6,985 48 9,008 7 1,657 3 667
HUNGARY ° ° ° ° 2 110 ° °
INOTA 6 1,109 7 556 1 23 ° °
INDONESIA 5 772 4 52 ° ° ° °
TRAN 6 436 10 977 6 4,144 9 1,404
IRAQ ° ° ° ° 1 1,440 ° °
IRELAND 12 7,056 1 3,600 ° ° 4 434
TSRAEL 2 364 1 61 1 159 2 407
ITALY 19 79,042 13 2.014 4 756 5 606
IVORY COAST ° ° ° 1 119 ° °
UAMAICA 3 1,621 ° ° ° ° ° °
JAPAN 13 26,938 35 115,863 ° ° 6 3,803
JORDAN 10 612 8 1,402 2 229 3 61
KENYA 4 32 ° ° ° ° ° °
KOREA (SOUTH) 3 459 1 26 1 100 ° °
KUWAIT 2 432 2 224 1 217 3 695
Laos 1 31 ° ° ° ° ° °
LEBANON 25 7,900 7 2,488 5 764 9 2,644
LIBERIA 8 1.520 14251998 6 5.605 1 114
LIBYAN ARAB REPUBLIC 1 15 ° ° 1 287 ° °
LIECHTENSTEIN 72 115,317 44 49,020 24 3,330 20 9,957
LUXEMBOURG 7 5.694 2 505 ° ° 1 286
MALAYSIA 4 40 5 2,769 ° ° ° °
MEXICO 260 164,076 21 (73,387 1 27 4 850
MONTSERRAT ° ° ° ° 1 145 ° °
Morocco ° ° 2 16,360 3 515 1 160
NAMIBIA 2 146 ° ° ° ° ° °
NETHERLANDS 159 52,426 468 54,288 31 9,689 57 13,998
NETHERLANDS ANTILLES 276 193,565 419 224,215 36 7,264 46 25,670
NEW ZEALAND ° ° 2 350 ° ° ° °
NICARAGUA 3 1,348 ° ° ° ° ° °
NIGERIA 1 14 ° ° ° ° ° °
NORWAY 2 634 2 340 ° ° 17 4,532

4 192, 1 262 ° ° ° °
PAKISTAN ° ° 9 2,171 ° ° ° °
PANAMA 156 95,644 51 94,680 7 2,862 8 7,090
PERU 19 195 1 81 1 15 ° °
PHILIPPINES 13 997 3t 2,080 ° ° 3 156
POLAND ° ° ° ° 1 147 ° °
PORTUGAL 1 20 3 ant 1 385 ° °
ST VINCENT 3 1,318 ° ° 1 1,319 ° °
SAUDI ARABIA 46 15,221 9 19,661 ° ° 4 505
SINGAPORE 2 64 3 504 1 480 ° °
SOUTH AFRICA 1 17 3 1,472 1 209 ° °
SOUTHERN RHODESIA 1 230 ° ° ° ° ° °
SPAIN 6 sat 5 532 ° ° 3 585
SWEDEN 14 2,685 3 1,513 3 313 10 2,007
SWITZERLAND 285 © 143,081 68 23,313 49 17,213 52 24,155
SYRIA 7 4.319 1 194 2 334 ° °
TAIWAN 15 4,002 4 1,607 ° ° 3 787
TANZANIA 2 10,143 ° ° ° ° ° °
THAILAND 1 127 ° ° ° ° 3 113
TRINIDAD & TOBAGO 3 73 ° ° ° ° 1 5B
TURKEY ° ° 1 38 ° ° 1 520
TURKS ISLANDS ° ° 6 798 1 160 5 2,234
UNITED ARAB EMIRATES 9 2.750 ° ° ° ° ° °
UNITED KINGDOM 126 45, 188 68 91,800 49° (76,874 73° 75,540

a
u

CONTINUED'--


Equity is frequently used tp measure net foreign investment transfer. To
approximate equity, debt was subtracted from current value for all reports that
provided information on debt and current value. The 287 reports providing
information on debt, $69,010,000, and current value, $319,179,000, resulted in an
equity figure of $250,169,000 (table 22). These figures reveal an equity figure
of 78 percent in relation to current value.

|
Country of Origin. Foreign persons not affiliated with a U.S. corporation
acquired 31 percent of the lacreage. U.S. corporations with foreign interests

|

|

|

TABLE 21--FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS

BY SIZE OF |ACQUISITION, UANUARY 1 - DECEMBER 31, 1988
ll
SIZE OWNERS PARCELS ACRES VALUE
(ACRES) REPORTING REPORTED (NUMBER ) (1,000
(NUMBER ) (NUMBER ) DOLLARS) 41/
|
LESS THAN 20 14 14 150 2,230
20-59 42 47 1,618 17,895
60-39 23 27 1,804 15,054
100-299 55 58 9,928 58,970
300-999 45 68 25,786 81,602
1000 OR MORE 30 73 248,477 142,657
TOTAL 209 287 287,763 318,408

|
i/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 22--VALUE OF U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE
OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1988
|
ACRES ACRES
WITH PURCHASE WITH NON-
OWNERS PURCHASE PRICE NON- PURCHASE
OWNER REPORTING PRICE (4,000 PURCHASE PRICE
(NUMBER ) REPORTED DOLLARS) PRICE (4,000
(NUMBER) REPORTED DOLLARS)
(NUMBER )
INDIVIDUAL 50 11,655 18,444 1,050 1,455
CORPORATION 124 199,306 176,006 17,579 22,505
PARTNERSHIP 26 41,289 88,689 15,285 4,386
TRUST 8 1,488 6,881 ° °
OTHER 1 ° ° 144 45
TOTAL 209 253,738 290,017 34,025 28,391
{
ACRES. ACRES
WITH CURRENT WITH EQUITY
CURRENT VALUE EQUITY (1,000
VALUE (4,000 REPORTED DOLLARS)
REPORTED DOLLARS) (NUMBER )
(NUMBER )
it
INDIVIDUAL 12,705 19,989 12,705 15,442
CORPORATION 216,885 199,458 216,885 183,849
PARTNERSHIP 56,574 93,145 56,574 46,633
TRUST 1,488 6,542 1,488 4,200
OTHER 144 45 ant 45
TOTAL 287,763 319,179 287,763 250, 169

28



average change in farmland value over time. The adjusted current values are not
presented as absolute values/ for the foreign-owned land in this report but should
be viewed as approximations of change in value.

The data in table 6 are not intended in any manner to indicate trends over time
in the level of acquisitions| by foreign persons. Acreage owned in the years
listed is the total amount of land that was reported purchased during that year
and which remained foreign owned as of. December 31, 1988. Because land is con-
tinually being disposed of by foreign owners or there are changes in status from
foreign to nonforeign or from agricultural to nonagricultural, acreage amounts in
each year are decreased by these land dispositions or status changes.

|

TABLE 6--VALUE OF FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY DATE OF ACQUISITION, DECEMBER 31, 1988
1

ACRES ACRES
WITH PURCHASE WITH NON-
DATE PARCELS ACRES PURCHASE PRICE 1/ NON- PURCHASE
ACQUIRED (NUMBER) (NUMBER) PRICE (1,000 PURCHASE PRICE 1/
REPORTED | DOLLARS) PRICE (4,000
i} (NUMBER) REPORTED DOLLARS)
| (NUMBER )
i988 287 287,763 253,738 290,017 34,025 28,391
1987 463 692,927 523,081 252,755 169,846 82,758
1986 510 | 1,821,247 1,772,573 349,672 48,674 156,092
1985 467 427,895 252,166 332,437 175,729 75,777
1984 565 | 1,380,688 1,265,696 671,453 114,992 209,775
1983 655 401,934 370,634 603,201 31,300 24,149
1982 935 670,011 422,694 637,972 247,317 87,688
1981 1,485 | 1,126,306 829,281 1,059,429 297,025 214,240
1980 1,345 152,760 719,201 1,083,698 33,559 76,761
1979 41651 | 1,235,014 1,182,158 1,404,265 52,856 92,387
1978 1,250 576,885 566,973 727,188 9.912 10,516
1977 841 409,359 396,658 388,428 12,701 6,560
1976 496 470,699 391,201 225,402 79,498 10,705
1975 296 213,174 210,121 105,759 3,050 1,631
1974-70 962 490,252 440,478 318,298 49,774 13,132
1969-60 651 838,070 740,011 85,218 98,059 8,308
BEFORE 1960 345 667,268 563,613 38.502 103,655 4,139
NO REPORT 1 22,489 22,489 12,770 ° °
TOTAL 43,215 |12,484,738 10,922,766 8,586,464 1,561,972 1, 103,009
acres REPORTED ADUUSTED
WITH CURRENT CURRENT
CURRENT VALUE 2/ VALUE 3/
VALUE (4,000 (1,000
REPORTED DOLLARS) DOLLARS)
(NUMBER)
|
1988 287,763 319,179 319,179
1987 692,927 339,730 346,525
1986 1,821,247 608,472 590,218
1985 427,857 416,844 354,317
1984 1,380,483 882,085 661,564
1983 400,526 633,840 443,688
1982 668,085 175,567 527,386
1981 1,118,309 1,295,710 829,254
1980 655,282 953,677 648,500
1979 1,137,509 1,246,023 946,977
1978 487,906 707,422 537,644
1977 290,369 580,805 441,442
1976 408,620 271,588 206,407
1975 149, 165 137,570 104,553
1974-70 340,549 403,328 306,529
1969-60 457,130 204,914 155,735
BEFORE 1960 624,697 * 160,790 122,200
NO REPORT 22,329 23.783 18,075
TOTAL 11,370,753 9,961,327 7,560, 160
4/ PURCHASE PRICE AND NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF ACQUISITION.

2/ REPORTED CURRENT VALUE REFLECTS VALUE AT TIME OF REPORTING AFTER FEBRUARY 1,
1979.

3/ REPORTED CURRENT VALUE ADJUSTED TO FEBRUARY 1, 1988. REPORTED CURRENT VALUE
FOR HOLDINGS ACQUIRED IN 1988 IS UNADJUSTED.

10


name or address of the foreign person must also be reported within 90 days of
such changes. Failure to comply with AFIDA subjects the foreign owner to a
possible civil penalty of up/to 25 percent of the fair market value of the
interest held in the land in| question.

In accordance with section 7| of the act, completed report forms are made
available for public inspection in Washington, DC, within 10 days of receipt by
the Secretary. Section 6 of the act requires that every 6 months the Secre-

tary transmit to each State completed report forms for foreign-owned agricultural
land in that State. :

Definitions

For this report, the term "holdings" applies to all U.S. agricultural land owned
by foreign persons as of December 31, 1988. For transactions that occurred in
1988, the terms "acquisitions" and "dispositions" refer to U.S. agricultural
lands acquired or disposed of, respectively, by foreign persons. These terms are
used as the titles for the subsequent sections analyzing the data reported under
the act.

“Agricultural land" is defined in the act as all land used for agricultural,
forestry, or timber production. The regulations further define agricultural land
as all land used for farming, ranching, forestry, or timber and include currently
idle land if its last use within the past 5 years was for farming, ranching,
forestry, or timber production. The regulations also exempt all agricultural
land not more than 10 acres|in the aggregate if the annual gross receipts from
the sale of farm, ranch, forestry, or timber products from such land do not
exceed $1,000.

AFIDA requires reporting "any interest" in the land other than a security inter-
est (a mortgage or other debt-securing instrument). The regulations exempt
leaseholds of less than 10 years’ duration, contingent future interests, non-
contingent future interests|that do not become possessory upon termination of the
present estate, nonagricultural easements and rights-of-way, and interests solely
in mineral rights.

A "foreign person," as defined in the act, includes any individual who 1) is not
a U.S. citizen or national,| 2) is not a citizen of the Northern Mariana Islands
or the Trust Territory of the Pacific Islands, or 3) is not lawfully admitted
into the United States for permanent residence. Any person who holds an Immi-
gration and Naturalization Service Form I-151 or I-551 (green card) is considered
lawfully admitted for permanent residence and is exempt from the requirements

of the act. Foreign governments, entities which are created under the laws of
or have their principal place of business in a foreign country, and U.S. entities
in which there is a significant foreign interest or substantial control are also
defined as foreign persons junder the act.

For this study, individuals are defined as one person or a husband and wife. The
"partnership" category includes all legally defined partnerships, joint ventures,
and tenancies in common that include two or more persons who are not married.

The term partnership does not differentiate between joint tenancies and tenancies
in common. In the interest of simplicity and brevity, fine legal distinctions,
however important in an individual case, are ignored.

Each foreign entity holding land is required to file a report. Therefore, if two
individuals own land as a partnership, the partnership is to file one report as a



Tenure Change

No tenure changes were reported for 43 percent of the parcels, or 41 percent of
the acres (table 17). Reports for 33 percent of the parcels containing 26
percent of the acres indicate a new tenure arrangement on at least part of the
land. The acreage affected by the new tenure arrangements is not reported.
Thus, the acreage may be overstated; that is, all of the acres in these parcels
are not necessarily affected by new tenure arrangements. Nevertheless, reports
for 0.3 percent of the parcels, accounting for 0.4 percent of the acres, indi-
cated that some of the tenure arrangements would remain the same and some would
change. No responses on tenure changes were received for 25 percent of the
parcels containing 32 percent of the acres.

In the South, no changes in tenure were reported for virtually the same number of
parcels and acres as were reported for parcels and acres with changes--40 percent
of the parcels covering 35 percent of the acres were reported as having no
changes and the same percentages were reported for new tenure arrangements. In
the West, North Central, and Northeast, however, there were more reports for
parcels and acres with no changes in tenure than there were reports for new
tenure arrangements.

Acquisitions

The data in this section are net figures for U.S. agricultural land acquired by
foreign persons from January 1 through December 31, 1988; that is, the total
reported acquisitions for the period less dispositions data for lands that were
both acquired and disposed during calendar year 1988.

Foreign persons reported that they had acquired 287 parcels of U.S. agricultural
land covering 287,763 acres from January 1 through December 31, 1988 (tables 18
and 19). Included in these acquisitions data are reports filed by U.S. entities
that became foreign during the period. This change occurs when a significant
interest or substantial control in a U.S. entity is subsequently acquired by a
foreign person. Consequently, all of the reported acres are not necessarily
recent land purchases. These acquisitions could include land held for any length

of time by a U.S. entity that recently came within the definition of a foreign
person under the act.

The reported acquisitions data should be regarded as preliminary in that they
understate to some degree the total acreage acquired by foreign persons during
the reporting period. Because foreign persons have a statutory 90 days within
which to report their acquisitions, not all the acquisitions acquired in the 90
days preceding the December 31, 1988, closing date of this report were received
for processing by USDA. Therefore, a number of reports for October, November,
and December are not included in this report. Table 40 shows that the distri-
bution of acquisition dates is skewed toward the first three quarters of 1988.
A further understatement of the acreage acquired by foreign persons during the
reporting period may result from transaction reports that are not timely filed
and/or completed by the closing date of this report. Consequently, such reports
would not have been processed for inclusion in this report.

Concentration of Foreign Acquisitions of U.S. Agricultural Land
Sixty-five percent of the acres acquired during 1988 were in Colorado, Minnesota,

and Florida (table 18). Thirty-nine percent of the acquisitions are concentrated
in the South (table 24).

25


|

TABLE 13--U.S. FOREST AND OTHER NONAGRICULTURAL

LANDHOLDINGS
BY COUNTRY OF FOREIGN OWNER, DECEMBER 31, 1988
(NUMBER )
country owers | parcets | acres
|

ARGENTINA 2 2
AUSTRALIA 3 4
AUSTRIA 6 17
BAHAMAS, 1 1
BELGIUM 2 2
BELIZE 1 2
BERMUDA 7 13
BRITISH VIRGIN ISLANDS 4 6
CANADA | 203 258
CAYMAN ISLANDS, 3 4
DENMARK 3 4
EGYPT 3 3
EL SALVADOR 1 1
FRANCE 7 9
GERMANY (WEST) 129 185
GREECE 3 3
HONG KONG 3 5
INDIA 1 1
INDONESIA 1 4
IRAN 3 3
ITALY 1 1
UAMAICA 1 1
UORDAN 3 4
KOREA (SOUTH) 1 1
LEBANON 2 2
LIBERIA 2 2
LIECHTENSTEIN 8 4
LUXEMBOURG 1 1
MEXICO 4 1
NETHERLANDS, 3 5
NETHERLANDS ANTILLES 22 32
PANAMA 4 7
PHILIPPINES 3 3
ST VINCENT 1 1
SAUDI ARABIA 4 4
SWEDEN 2 2
SWITZERLAND 15 20
SYRIA 2 2
TAIWAN 1 1
TURKS ISLANDS 1 1 5
UNITED KINGDOM 30 35 66,978
VENEZUELA 7 9 1,312
VIETNAM 1 1 152
MULTIPLE 7 8 5.619
THIRD TIER 3 448 194,874

SUBTOTAL 4 512 1,127 1,515,717
US/AUSTRALIA| 1 1 315
US/AUSTRIA 2 3 360
US/BAHAMAS 1 2 3,384
US/BELGIUM 4 7 5,061
US/BERMUDA 4 15 9,284
US/BRITISH VIRGIN

ISLANDS 1 3 1,023
US/CANADA 34 382 600,723
US/DENMARK 3 3 546
US/EGYPT 1 1 155
US/FINLAND 2 14 3,047
US/FRANCE 4 ot 893,846
US/GERMANY (WEST) 16 34 11,090
US/GREECE 1 1 147
US/UAPAN 10 16 9,911
US/KUWAIT 1 1 712
US/LIBERIA 4 4 3,520
US/LIECHTENSTEIN 2 3 6,648
US/LUXEMBOURS 1 1 8
US/NETHERLANDS 8 22 59,900
US/NETHERLANDS ANTILLES 8 19 2.204
US/NORWAY 4 1 25
US/PANAMA 6 6 3,551
US/PHILIPPINES 1 4 631
US/SAUDI_ ARABIA 1 18 3,193
US/SWITZERLAND 10 18 42,064
US/UNITED KINGDOM 42 190 2,176,565
US/VENEZUELA\ 3 3 1,787
US/MULTIPLE | 4 14 161,085
US/THIRD TIER 1 98 139,338

SUBTOTAL 2/ 184 969 4,140, 183
TOTAL 696 2,096 5,655,900

4/_roratl INTERESTS EXCLUDING U.S. CORPORATIONS WITH
FOREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS.
22


Table Page

35. Dispositions of U.S. agricultural land by type of f foreign owner,

January 1-December 31, 1988... ....... ry A
36. Dispositions of foreign-owned U.S. agricultural land by size of

disposition, January 1-December 31, 1988 ............4.2.+. 37
37. Dispositions of U.S. agricultural land by country of foreign owner,

January 1-December 31, 1988... se ee we ee ee ee ee 88
38. Dispositions of U.S. agricultural land by country of foreign owner,

by U.S. region, January 1-December 31, 1988 .............. 39
39. Dispositions of U.S. agricultural land by country of foreign owner,

by use, January 1-December 31, 1988... ........-6...... 40
40. Acquisitions and dispositions of foreign-owned U.S. agricultural

land, by date, January 1981-December 1988 ............2.. .421


Table

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

30.

31.

32.

33.

34.

U.S. agricultural land acquisitions of foreign owners by State,
January 1-December 31, 1988. . 2... 2... 2.2. .00.

U.S. agricultural land acquisitions by type of foreign owner,
January 1-December 31, 1988. . 2... 2... 2 ee eee
Foreign owners of U.S. agricultural land acquisitions by State,
January 1-December 31, 1988... .......2..

Foreign-owned U.S. agricultural land acquisitions by size of acqui-
sition, January 1-December 31, 1988... ..........04-

Value of U.S. agricultural land acquisitions by type of foreign owner,
January 1-December 31,1988... .. sone

U.S. agricultural land acquisitions by country of foreign owner,
January 1-December 31, 1988 . .

Foreign ownership of U.S. agricultural land acquisitions by U.S.
region, January 1-December 31, 1988... 2... 2.

Foreign-owned U.S. agricultural land acquisitions by type of interest,
method of acquisition, and owner-representative, January 1-

December 31, 1988 .

Use of U.S. agricultural land acquisitions by country of foreign owner,
January 1-December 31, 1988 2... ee

U.S. forest and other nonagricultural land acquisitions of foreign
owners by State, January 1-December 31, 1988

U.S. forest and other nonagricultural land acquisitions by country of
foreign owner, January 1-December 31, 1988

U.S. forest and other nonagricultural land acquisitions by type of
foreign owner, January 1-December 31, 1988 ....

Foreign acquisitions of U.S. forest and other nonagricultural land by
size of acquisition; January 1-December 31, 1988

Intended use of U.S! agricultural land acquisitions of foreign owners,
January 1-December 31, 1988... 2... .
Tenure of foreign-owned U.S. agricultural land acquisitions,
January 1-December 31, 1988 .

Dispositions of U.S! agricultural land by type of foreign owners, by
State, January 1- Dedember 31, 1988 ..... : :

Dispositions of U.S! agricultural land by foreign owners, by citizen-
ship of purchasers, |January 1-December 31, 1988 . .

- 27

- 28

. 28

. 29

- 30

- 31

32

. 32

. 33

. 33

. 34



Table 7 adjusts reported current value by State for the same reasons given in

the discussion of table 6. Because the reported current value in table 7 is
adjusted by each State's average annual change in farmland value, the total
adjusted current value will differ from that of table 6. Simply explained, not
all land values in table 6 would have changed at the national average. Therefore,

TABLE 7--VALUE OF FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY STATE, DECEMBER 31, 1988

ACRES REPORTED ADJUSTED

REPORTED WITH CURRENT CURRENT

STATE AND ACRES VALUE 1/ CURRENT VALUE 2/ VALUE 3/

U.S. TERRITORY (NUMBER ) (1,000 VALUE (1,000 (4,000

DOLLARS) REPORTED DOLLARS) DOLLARS)

(NUMBER )

ALABAMA 279,084 133,066 271,633 172,898 173,988
ALASKA 416 255 416 255 175
ARIZONA 270,285 346, 162 196,369 337,515 277,239
ARKANSAS, 171,570 174,970 167.139 178,318 130,280
CALIFORNIA 922,889 2,032,179 851,869 1,950,929 1,762,021
COLORADO 531,939 353,162 495,220 323,598 278,497
CONNECTICUT 1,120 5,386 1,014 4,167 7,286
DELAWARE 5,364 15,627 5,087 11,016 14,780
FLORIDA 519,236 992,098 493,091 1,100,313 1,209,094
GEORGIA 578,395 542,667 543,952 574,075 531,432
GUAM 336 2,389 ° ° °
HAWAII 53,895 71,162 53,600 68,915 57,702
IDAHO 18,856 12,767 18,042 13,539 10,332
ILLINOIS 116,463 224,239 112,386 228,984 142,709
INDIANA 43,965 64,354 95,341 59,877 38,207
IOWA 31,662 48,350 29,719 52,376 26,343
KANSAS 59,961 36,457 87,273 37,274 23,403
KENTUCKY 78,564 168,447 71,070 165,540 136,799
LOUISIANA 659,400 166,227 636,679 211,963 150,562
MAINE 1,799,794 243,457 1,703,993 286,070 465,899
MARYLAND 50,926 132,141 47,503 143,202 143,289
MASSACHUSETTS 1,703 1,281 1,518 994 1,947
MICHIGAN 200,595 71,148 198,099 62,525 44,781
MINNESOTA 296,076 27,281 154,269 23,472 16,411
MISSISSIPPI 437,693 159,769 432,244 192,279 170,000
MISSOURI 59,173 58,321 54,366 74,340 49,117
MONTANA 444,476 61,297 412,007 63,400 39,967
NEBRASKA 70,552 12,259 67,421 22,367 11,916
NEVADA 155,507 11,567 155,427 13,595 12,646
NEW HAMPSHIRE 84,517 14,033 83,496 13,344 25,132
NEW JERSEY 26,642 134,765 22,996 127,503 235,711
NEW MEXICO 557,115 58,051 398,313 64,086 55,082
NEW YORK 348,589 131,232 341,602 93,013 117,136
NORTH CAROLINA 262,828 256,173 251, 122 313,399 283,698
NORTH DAKOTA 28,846 5,063 26,432 8,097 6,079
OHIO 161,017 144,483 140, 116 149,386 89,078
OKLAHOMA 31,148 21,279 30,683 23,253 16,462
OREGON 804,523 228,792 769,664 246,501 178,763
PENNSYLVANIA 74,122 33,806. 72,488 39,017 44,409
PUERTO RICO 1,448 4,440 1,448 4,946 3,758
SOUTH CAROLINA 212,695 174,444 202,307 162,094 158,601
SOUTH DAKOTA 42,901 15,335 37,882 14,979 8,628
TENNESSEE 73,211 51,948 68,055 46,778 50,752
TEXAS 1,029,885 1,623,433 913,262 1,584,259 1,579,120
UTAH 61,710 69,561 38,889 125,235 114,231
VERMONT 110,966 60, 188 106,958 65,090 143,294
VIRGINIA 116,411 211,836 91,732 188,995 195,657
WASHINGTON 402,204 202,240 368,098 243,899 220,574
WEST VIRGINIA 74,183 30,132 73,604 29,043 28,492
WISCONSIN 21,047 27,664 17,727 26,280 17,858
WYOMING 99,135 22,123 47,135 18,340 13,806
TOTAL 12,484,738 9,689,473 11,370,753 9,961,327 9,480, 142

4/ REPORTED VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF
ACQUISITION.

2/ REPORTED CURRENT VALUE REFLECTS VALUE AT TIME OF REPORTING AFTER FEBRUARY 1, 1979.

3/ REPORTED CURRENT VALUE ADJUSTED TO FEBRUARY 1, 1988. REPORTED CURRENT VALUE FOR
HOLDINGS ACQUIRED IN 1988 IS UNADJUSTED.

11


Foreign Ownership of U.S. Agricultural
Land Through December 31, 1988

J. Peter DeBraal*

A Report to the President and the Congress
Under the Agricultural Foreign Investment Disclosure Act of 1978

INTRODUCTION

Foreign individuals and entities reported owning 12.5 million acres of U.S.
agricultural land as of December 31, 1988. This is slightly less than 1 percent
of all privately owned U.S. agricultural land and approximately 0.5 percent of
all land in the United States.

Summary of the Act and Regulations

The Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA), 1/ as imple-
mented by the regulations, 2/ requires all foreign persons holding agricultural
land as of February 1, 1979, to file a report of such holdings with the Secretary
of Agriculture by August 1, 1979. All foreign persons who acquire or dispose of
agricultural land on or after February 2, 1979, are required to report such
transactions within 90 days of the transfer. In addition, any foreign person who
holds land that subsequently becomes or ceases to be agricultural land or any
person who holds agricultural land who subsequently becomes or ceases to be a
foreign person must also file a report within 90 days of such change.

AFIDA specifies in detail the information to be supplied by the foreign person
and provides that necessary additional information may be obtained by the
Secretary. The information required to be reported consists of the legal name
and address of the foreign person; citizenship, if an individual; if not an in-
dividual or a government, nature of the legal entity, including the entity's
country of creation and principal place of business; type of interest; legal
description; acreage; purchase price or any other consideration given; intended
use; where applicable, information about the representative of the foreign
person; how the interest in the land was transferred; the relationship of the
foreign owner to the operator; type of rental agreement, if any; and the date
the interest in the land was transferred. In the case of a disposition, the
party disposing of the interest is also required to give the legal name and
address of the purchaser; citizenship, if the purchaser is an individual; and if
the purchaser is not an individual or government, the nature of the entity,
country of creation, and principal place of business. Any change in the legal

*General Attorney, Resources and Technology Division, Economic Research
Service. Gertrude Butler and Joyce Su provided the data processing assistance.

1/ Pub. L. No. 95-460, 7 U.S.C.§§ 3501-3508 (1982).

2/7 C.F.R. §§ 781.1-.6 (1988). See 7 C.F.R.§§ 2.21(b)(29), .27(a)(15),
-65(a) (30), and .84(a)(8) (1988) for the delegation of authority.

1


Interest in Land

Of the 13,215 parcels of foreign-held U.S. agricultural land, 85 percent of the
parcels, accounting for 84 percent of the reported acreage, is held in fee inter-
est whole (that is, the owner holds the estate in its entirety). Partial inter-
ests are held in another 6 percent of the parcels covering another 12 percent of
the acres (table 10).

Under the AFIDA regulations, leases of 10 years or longer are the only leases
that need be reported. 4/ Leases are treated separately because they represent a
totally different type of interest. Questions on value, tenure, and method of
acquiring land do not apply because the report form was not devised to deal with
leases. The U.S. Department of Agriculture (USDA) has received 429 reports
covering a net total of 1,080,775 acres of leased land. Timber land accounts for
696,246 acres, or 64 percent of the reported foreign leaseholds.

Method of Acquisition

More foreign investors reported paying cash for their U.S. agricultural land-
holdings than using any other method of acquisition. Of the total foreign-owned

TABLE 10-~FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY TYPE OF INTEREST, METHOD OF ACQUISITION,
AND OWNER-REPRESENTATIVE, DECEMBER 31, 1988

(NUMBER )
ITEM PARCELS ACRES
INTEREST:
FEE INTEREST WHOLE 11,278 10,516,662
FEE INTEREST PARTIAL i/ 836 1,467,667
LIFE ESTATE 40 8,137
TRUST BENEFICIARY 199 114,070
PURCHASE CONTRACT 780 321,596
OTHER 82 56,606
TOTAL 13,215 12,484,738
METHOD OF ACQUISITION:
CASH ONLY 5,988 4,101,603
CREDIT ONLY 4,389 2,260,657
TRADE ONLY 325 344,066
GIFT/INHERITANCE ONLY 331 223,368
FORECLOSURE ONLY 28 40,838
OTHER METHOD ONLY 729 3,149,241
CASH & CREDIT ONLY 1,183 1,392,077
CASH & TRADE ONLY 67 582,079
CASH & ANY OTHER COMBINATION 42 54,685
NO REPORT 55 23,001
NONCASH COMBINATIONS 78 313,123
TOTAL 13,215 12,484,738
OWNER-REPRESENTATIVE:
ATTORNEY 3,736 3,345,856
MANAGER 2,262 3,383,211
AGENT 1,369 1,096,283
OTHER 3,174 3,037,326
FOREIGN OWNER 2,438 1,387,895
NO REPORT 236 234,167
TOTAL 13,215 12,484,738

4/ THE FEE INTEREST PARTIAL IS USED FOR THOSE PARCELS WHICH ARE
OWNED ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE
INTEREST LESS THAN 100 PERCENT.

4/ 7 C.F.R.§§ 781.2(c) (1988)

17


United States
Department of
Agriculture

Economic
Research
Service

Resources
and
Technology
Division

Foreign Ownership of U.S.
Agricultural Land Through
December 31, 1988

J. Peter DeBraal


TABLE 39--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY USE,
UANUARY 1 - DECEMBER 31, 1988

(AGRES)
1
COUNTRY CROPLAND PASTURE FOREST OTHER [OTHER NON~ TOTAL
AGRICULTURE | AGRICULTURE

AUSTRIA ° ° 80 ° ° 80
BAHAMAS 60 ° ° ° 17 17
BERMUDA ° ° 13,786 29 68 13,883
BRITISH VIRGIN ISLANDS ° ° ° ° 170 170
CANADA 5,310 226 1,088 1,295 446 8.365
COLOMBIA ° 6,220 ° ° ° 6,220
DOMINICAN REPUBLIC ° ° ° ° 18 18
EGYPT ° ° ° 287 ° 287
FRANCE 15 ° 16,779 ° ° 16,794
GERMANY (WEST) 1,582 228 21.602 415 168 41995
GUATEMALA 10 ° ° ° ° 10
HONG KONG 166 158 ° 114 10 448
TRAN 32 431 ° ° ° 163
IRAQ ° 35 ° ° ° 35
ITALY ° 840 ° 300 ° 1,140
JAPAN ° 230 ° a7 ° 277
LEBANON 550 251 ° ° ° 801
LIECHTENSTEIN 5 2,296 ° 170 ° 2.474
MEXICO 3 232 ° 167 ° 402
NETHERLANDS ° 56 55 277 27 445
NETHERLANDS ANTILLES 1,364 14,075 2,292 ° 59 17,790
PANAMA 769 50 206 289 17 11331
SAUDI ARABIA ° 2 4 ° ° 6
SWITZERLAND 3,395 198 463 120 6 4,122
TRINIDAD & TOBAGO 10 ° ° ° ° 40
TURKS ISLANDS ° ° 1,270 ° ° 1,270
UNITED KINGDOM ° 98 45 ° ° 143
URUGUAY 2,856 ° ° ° 695 3,551
VENEZUELA 135 ° 188 ° 278 601
THIRD TIER 9,355 467 677 406 835 414,740

SUBTOTAL 1/ 25,557 25,793 39,535 3,916 2,814 97,615
US/BAHAMAS ° 5.940 ° ° ° 5.940
US/BELGIUM st 65 24 ° ° 140
US/BRITISH VIRGIN

ISLANDS ° 4 9,586 ° ° 9,590
US/CANADA 400 2,492 11850 217 22 4y98t
US/CAYMAN TSLANDS 130 43 ° ° ° 179
US/EGYPT 100 ° 133 ° 1 234
US/FRANCE 24 630 131,016 337 1,100 133, 104
US/GERMANY (WEST) 208 215 431 6 ° 860
US/HONG KONG 520 120 ° ° ° 640
US/JAPAN 210 98 ° / 0 ° 308
US/LIECHTENSTEIN 334 52 22 ° 28 436
US/NETHERLANDS 796 8.142 2,433 ° 678 12,049
US/NETHERLANDS ANTILLES 5,696 31652 ° ° ° 9,348
US/SWEDEN 4ai2 ° ° 311 ° 723
US/SWITZERLAND 1,009 2 1,045 20 4116 2,192
US/UNITED KINGDOM 446 ° 298,093 107 275 298,921
US/VENEZUELA 60 ° ° 40 4 104
US/MULTIPLE 4 ° ° 5 ° 9

SUBTOTAL 2/ 10,397 21,461 444,633 1,043 2,224 479,758
TOTAL ALL

LAND DISPOSITIONS 35,954 47,254 484,168 4,959 5,038 877,373

G/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

preliminary. In addition, unlike the net data in the acquisitions section, the
acquisitions figures here |are gross figures; that is, total acquisitions without
reductions for dispositions.

PROGRAM COSTS

Administration of the AFIDA program for obtaining and analyzing the data has
required an estimated 12.2 staff-years at a cost of approximately $376,000 to
USDA for the past year. The Agricultural Stabilization and Conservation Service
contributed approximately |10.6 staff-years at an estimated cost of $325,000. The
remaining costs and staffiyears are attributable primarily to the Economic
Research Service, with some contributions by the Office of the General Counsel
and the Office of Governmental and Public Affairs.

40



The AFIDA procedures provide|for land to be reported by parcels. All land held
in the same manner (type of interest), located in one county, and acquired at the
same time is considered a parcel and is to be reported on a single form. Land
does not have to be adjacent/ to be considered part of one parcel. This parcel
concept is intended to ease the reporting burden.

All parcels (and acres) for each owner have been combined under each owner.
Therefore, the number of owners is less than the number of parcels. However,
because owners do not always| report their names in exactly the same way on each
form, it is difficult to attribute these forms with great precision to one person
or legal entity. Some foreign persons hold land in their own names and also hold
interests in entities that own other lands. These entities are treated as
separate owners.

The data in this report should be viewed in light of the foregoing caveats and
those accompanying the tables. Reporters’ errors must also be considered in
reviewing this study. Resulting data deficiencies are noted and highlighted as
appropriate. The "No Report" category in the tables means that a response to the
particular question was not made. Note that the acreage figures reported do not
mean that they are wholly owned by foreign investors. Of the 12.5 million
foreign-owned acres, 60 percent are owned by U.S. corporations in which there is
a significant interest or substantial control by foreign persons (table 8). In
addition, a number of acres |are owned only in part by foreign investors. See,
for example, table 2, which |gives the acreage equivalent for foreign owners
reporting partial interests |in the real estate. These partial interests reduce
the 12.5 million acres of foreign holdings of U.S. agricultural land to an equi-
valent of 11.6 million acres.

ANALYSIS OF DATA REPORTED UNDER THE ACT

Holdings

Data in this section are derived from the 13,215 reports filed by foreign persons
who held land as of December 31, 1988. These report forms account for 12,484,738
acres of all U.S. agricultural land. This is an increase of 99,119 acres over
the 12,385,619 acres foreign owners reported owning as of the end of last

year. 3/ This 99,119-acre increase is less than the 287,763 acres acquired
during 1988, as reported in the acquisitions discussion. Dispositions for 1988,
acreage reductions for foreign persons whose status changed to nonforeign, and
acquisitions reported in 1988 for previous years are the reasons for this
difference.

Concentration of Foreign Ownership of U.S. Agricultural Land

Foreigners have reported acreage holdings in 49 States, Puerto Rico, and Guam
(table 1 and fig. 1). Rhode Island is the only State with no reported foreign-
owned agricultural land. Except for Rhode Island and Maine (described below),
only a small proportion of the privately held agricultural land in each State is
foreign owned (table 1 and fig. 2). Deleting the acreage for Maine from the
Northeast data, foreign investment is concentrated in the South and West which
contain 36 and 35 percent, respectively, of all reported foreign holdings of U.S.
agricultural land (table 9)).

3/ The 12,534,972 acres report in last year's report overstated the amount of
foreign-held U.S. agricultural land because of duplicate filings or other filing
errors, and has been adjusted downward to 12,385,619 acres.



partnership, with the partners’ names and citizenship listed on the back of the
form. Occasionally, however, two people will file as individuals, each filing a
separate report on the same land with a partial interest of, for example, 50
percent listed on each form. Because it is not always possible to distinguish
separate reports for the same land, two such individuals cannot be differentiated
from one partnership. This may occur when there is no legal partnership but
individuals own the land as tenants in common. If they file together on one
form, they are automatically considered a partnership. If they file separately,
they are generally considered individuals. Therefore, the data on individuals
and partnerships and the number of reported parcels should be used with caution.

The act is designed to impute foreign person status to certain U.S. entities
holding direct and indirect interests in U.S. agricultural land. For purposes of
the act, this is accomplished by defining each successive link in a chain of U.S.
entities containing foreign interests as a foreign person. However, only

the foreign person who actually holds the direct interest in the land (that is,
the first layer or tier) is considered the reporting entity. This entity need
not actually be foreign, but under the act it is deemed a foreign person because
another foreign person holds a significant interest or substantial control in it.
In some instances, that second tier also may not actually be foreign but may be
deemed foreign under the act for the same reason. The regulations define "sig-
nificant interest or substantial control" to mean a 10-percent or more interest
in the entity if held by a single foreign person or a group of foreign persons
acting in concert, or a 50-percent or more interest if held by a group of foreign
persons not acting in concert, none of whom individually holds a 10-percent or
greater interest in that entity.

Under the regulations, the reporting entity (other than an individual or govern-
ment), whether domestic or foreign, is required to provide information (names,
addresses, citizenship, and the nature of the entity, if any) on the second-tier
investments; that is, all foreign persons holding a significant interest or
substantial control in the reporting entity. In turn, a second-tier entity may
be required to provide information about foreign persons who hold a significant
interest or substantial control in that entity.

When the foreign person is an individual from, or an entity created under the
laws of, for example, West Germany, the report is processed as "Germany (West)."
Where persons from many different countries hold direct and indirect interests in
one piece of land, an attempt is made to identify the predominant country as the
country of origin. When there is no predominant country--for example, an equal
partnership between a Canadian and a West German--the report is processed as
"Multiple." Reports filed by U.S. corporations with foreign shareholders are
classified "U.S./(foreign country)." For example, a U.S. corporation with a
Canadian shareholder who has a significant interest or substantial control is
processed as "U.S./Canada." Similarly, a U.S. corporation owned by another U.S.
corporation in which a Canadian corporation has a significant interest or sub-
stantial control is processed as "U.S./Canada." Where foreign shareholders with
a significant interest or substantial control are from a number of countries,
none of which predominates, the report is processed as "U.S./Multiple." If three
or more tiers of U.S. corporations are listed with no foreign interest indicated,
the report is processed as "U.S./Third Tier." Noncorporate entities with U.S.
interests are processed under the predominant country of origin.

U.S. agricultural land owned by a U.S. entity deemed a foreign person under the
act (the party legally responsible for providing the information required by the
act) is reported from the standpoint of the U.S. entity rather than that of the
foreign shareholder.


\
|
|
|

Characteristics of Foreign Owners Disposing Land
{

Type of Foreign Owner. the |largest amount of acres disposed were in Maine
and Pennsylvania, accounting for 59 percent of the dispositions acreage (table
33). The greatest number of dispositions occurred in Georgia and Vermont,
accounting for 30 percent of the parcels but only 7 percent of the acreage.

Transfers by foreign investors to U.S. purchasers accounted for 66 percent of the
parcels and 36 percent of the acres (table 34). Reports for 12 percent of the
parcels and 6 percent of the acres indicated that they were transferred to other
known foreign persons. Reports for 21 percent of the parcels covering 58 percent
of the acres indicated dispositions to persons of unknown citizenship.

Corporations were the most active type of. foreign owner disposing of land--
accounting for 63 percent of the owners, 79 percent of the parcels, and 90

TABLE 33--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN OWNERS,
BY STATE, JANUARY 1 - DECEMBER 31, 1988

(NUMBER)
1No1 VIDUAL ORGANIZATION TOTAL
STATE I
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES PARCELS ACRES
REPORTED REPORTED REPORTED
ALABAMA 2 163 7 87 9 250
ARIZONA 0 ° 1 6a 1 64
ARKANSAS lo ° 4 6,272 4 6,272
CALIFORNIA lo ° 22 5,100 22 5,100
COLORADO lo ° 6 271664 6 27,664
DELAWARE 2 337 ° ° 2 337
FLORIDA s 1,334 25 21,287 30 22,591
GEORGIA 2 25 73 36.478 78 361503
HAWAII lo ° 1 277 1 277
IDAHO ° ° 8 8.400 8 8,400
ILLINOIS ° ° 6 121379 6 12,379
INDIANA ° ° 1 80 1 80
IOWA 1 86 2 ait 3 497
KANSAS. ° ° 8 13,419 8 13,419
KENTUCKY ° ° 3 788 3 788
LOUISIANA ° ° 1 2,088 4 2,088
MAINE ° ° 10 401.687 40 40,687
MARYLAND 2 384 3 521 5 905
MISSISSIPPI ° ° 16 2,136 16 2,136
MONTANA ° ° 1 a4 1 41
NEW HAMPSHIRE ° ° 5 4,791 5 4,794
NEW_YORK 5 337 3 107 8 aaa
NORTH CAROLINA 3 21 6 30 9 51
OHIO ° ° 7 2,486 7 2,486
OREGON ° ° 28 248,115 28 248.115
PENNSYLVANIA ° ° 30 91,857 30 91.857
SOUTH CAROLINA 3 92 18 2iaat 21 21533
TENNESSEE 5 623 ° ° 5 623
TEXAS 6 585 17 8,339 23 8,924
VERMONT hs 770 84 31980 69 4.750
VIRGINIA 9 366 8 21773 17 3,145
WASHINGTON 1 40 32 121094 33 121194
WEST VIRGINIA ° ° 2 13,586 2 13.586
WISCONSIN 1 105 2 att 3 516
WYOMING’ ° ° 3 5,940 3 5.940
TOTAL \s2 5.268 42a 572,105 45 877,373
TABLE 94--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY FOREIGN OWNERS,
BY CITIZENSHIP OF PURCHASERS, JANUARY 1 - DECEMBER 31, 1988
(NUMBER)
PURCHASER PARCELS ACRES
REPORTED
usa 322 205,968
FOREIGN 58 31,137
UNKNOWN 102 333,696
NO REPORT 3 6.572
TOTAL 435 877,373
36



Tenure

Tenants and foreign owners operate 38 percent and 29 percent of the parcels of
foreign-held U.S. agricultural land, respectively, whereas managers operate only
9 percent of the parcels (table 17). No responses to the tenure question were
received for the remaining 24 percent of the parcels. However, tenants operate
25 percent of the acres, while foreign owners directly operate 42 percent and
managers 6 percent. No responses on tenure were received for the remaining 27
percent of the acres. |

Rental agreements were reported for 5,037 parcels, or 38 percent, covering 24
percent of the acres. Of the rental agreements, cash agreements accounted for

64 percent and cropshare agreements for 34 percent of the parcels.

TABLE 16--INTENDED USE [OF U.S. AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS,

DECEMBER 31, 1988
(NUMBER )
|
ITEM NO CHANGE OTHER OTHER NON- NOT TOTAL
| AGRICULTURE | AGRICULTURE| REPORTED
|
INDIVIDUAL:
PARCELS REPORTED 3,957 175 177 60 4,369
ACRES 841,752 63,132 23,513 7,656 936,053
ORGANIZATION:
PARCELS REPORTED | 7,159 374 1,165 148 8,846
ACRES 10,784,990 208,310 389,625 165,760 11,548,685
TOTAL:
PARCELS REPORTED 11,116 549 1,342 208 13,215
ACRES 11,626,742 271,442 413,138 173,416 12,484,738

TABLE 17--TENURE OF FOREIGN-OWNED
U.S. AGRICULTURAL LANDHOLDINGS

DECEMBER 31, 1988
(NUMBER )
TENURE PARCELS ACRES

]

CURRENT}:
FOREIGN OWNER 3,786 5,230,501
MANAGER 1,198 792,915
TENANT 5,034 3,065,054
NO REPORT 3,189 3,386,301
TOTAL 13,215 12,484,738

RENTAL:
ROP 1,719 630,260
CASH 3,240 2,306,149
BOTH 78 87,559
NO REPORT 4,392 4,230,269
NoT APPLICABLE 3,786 5,230,501
TOTAL 13,215 12,484,738

INTENDED CHANGE:

NONE 5,675 5,176,094
NEW 4,138 3,254,346
BOTH 41 52,596
NO REPORT 3,364 4,001,702
TOTAL 13,215 12,484,738

24



ACQUISITIONS AND DISPOSITIONS OF FOREIGN-OWNED U.S.
- DECEMBER 1988

UANUARY 1981

AGRICULTURAL LAND, BY DATE

ACQUISITIONS DISPOSITIONS
DATE
PARCELS ACRES VALUE PARCELS ACRES VALUE
REPORTED (NuMBER) | _(1,000 REPORTED (NuMBER) | (1,000
(NUMBER) DOLLARS)1/ (NUMBER) DOLLARS )1/
1981
UANUARY 149 59,915 104,291 52 34,470 29,058
FEBRUARY 151 43,812 TATE 34 10,826 17,099
MARCH 281 2,488,657 1.920.765 44 105, 183 314,220
APRIL 473 104,728 126,580 55 50,437 5, 157
MAY 185 137,516 222,291 55 10,853 17,352
UUNE 195 115,553 144,742 58 50,722 5,848
vULY 173 123,551 183,210 53 34,873 41,679
AUGUST 195 376,796 167.346 43 24,343 52,463
SEPTEMBER 153 46,965 103,951 40 5,287 8.718
OCTOBER 149 99) 187 62,668 46 18,185 13,800
NOVEMBER 154 75,142 76,624 48 22,693 18,522
DECEMBER 149 113,428 108,537 61 34,421 35,779
MULTIPLE 2 957 11864 1 14 204
TOTAL, 2.109 3,786,207 3,276,445 590 393,304 336,899
1982
UANUARY 491 90,472 153,854 62 32,164 42,928
FEBRUARY 102 52.717 74,306 36 25,870 17,294
MARCH 142 50,444 91,443 33 7,042 44,202
APRIL 421 55,098 7.163 36 28,631 20,502
May 118 83,935 64/285 39 91156 26.175
YUNE 138 78,923 65,083 47 29.474 39.797
JULY 135 70.441 87.531 38 11,606 19,134
AUGUST 105 189,876 2.494 34 15.860 23,957
SEPTEMBER 72 27,359 29,208 26 Baia 5.375
OCTOBER 93 38.300 34,262 43 2.830 21727
NOVEMBER 86 124,946 155,956 38 18,900 64,881
DECEMBER a8 35.283 53,541 54 5.148 191529
MULTIPLE 7 5.552 3.875 ° ° °
TOTAL 1,398 903,346 972,698 483 202,092 293,498
1983
YANUARY 31 30,239 54,679 28 12,379 14,784
FEBRUARY 76 44,525 45.561 35 125.211 231649
MARCH 7 22.251 46,231 33 8,104 15,202
APRIL, 108 86,919 57,798 68 19.565 21,955
May 109 35.684 65,765 68 27,497 18,420
YUNE Ta 29,725 56,413 58 7,086 11622
vULY 84 44.254 43,637 49 47.215 26,852
AUGUST 69 33,668 30,635 53 34,153 23,677
SEPTEMBER 68 102,720 96,427 38 11,032 12, 146
OCTOBER a7 19,053 27.331 at 4.571 28,029
NOVEMBER 76 54.534 3241232 59 1731124 287,059
DECEMBER 15 31,569 62.799 11 15.351 33.683
TOTAL 954 535,141 911,508 601 455,288 547,078
1984
YANUARY 110 306.915 137,248 117 48,786 53,956
FEBRUARY 37 17,073 45,055 27 13,920 22,447
MARCH 64 77.427 88,452 51 26,454 24,428
APRIL, 7 70,153 94.449 45 33,679 39,978
MAY 65 13.831 16,648 39 7,524 10,568
JUNE 72 50,621 68,264 42 29,884 37,041
vULY 51 14,002 155,749 a7 ta) 162 24,759
AUGUST 65 35,550 89.453 39 12/888 30388
SEPTEMBER 51 24.482 40.057 43 6.123 9,560
OCTOBER 38 16,981 92,992 30 17.256 26,744
NOVEMBER 43 42,306 40.357 87 13,580 46,134
DECEMBER 87 963,799 277,554 68 836,172 101,356
MULTIPLE 1 170 575, ° °
TOTAL 761 1,633,304 1,086,853 611 1,060,425 397,356
1985
YANUARY 45 114,304 72,748 24 7,182 9,876
FEBRUARY 28 8.811 24.415 19 12,167 10.931
MARCH 38 13,087 87,124 26 5.697 16,461
APRIL, 42 16,554 20.475 46 8,045 12,706
May 37 60.646 22.683 32 2.761 6,208
JUNE 33 19,601 21,055 25 26, 140. 11,089
yULY 45 67.647 49,427 26 1,966 31390
AUGUST 28 7.553 14,263 27 7149 31694
SEPTEMBER 414 1.7321552 39.568 24 192,714 14,548
OCTOBER 56 14,081 37.753 34 9.418 5.911
NOVEMBER 24 8.648 26.119 15 6,060 6,706
DECEMBER 134 81,893 70,300 120 30,995 45,498
MULTIPLE 1 439 293 ° ° °
TOTAL 619-2. 145,816 486.223 415 314,294 144,018
CONTINUED ~~

41


Owners of parcels with less than 300 acres, 60 percent of all the owners, own 22
percent of the parcels covering only 0.6 percent of the forest land or forest and
other nonagricultural land (table 15). The remaining 40 percent of the owners,
owning parcels with 300 acres or more, own 78 percent of the parcels covering
99.4 percent of these lands.

Intended Use

Concern has been expressed about farmland being purchased and taken out of
agricultural production. Foreigners do not appear to be proceeding in this
direction to any substantial degree. However, the following data on intended use
and tenure, like much of the use and value data, are based on information at the
time of filing; they do not reflect subsequent changes.

No change in intended use was reported for 93 percent of the acres (table 16).
Intended use changes to other agricultural usage were reported for holders of 2
percent of the acres. Reports for 4 percent of the acres indicate that some
change to nonagricultural use is intended. Such reports do not necessarily mean,
however, that all of these acres will be changed. What the reports do mean is
that the holders of these acres intended to change the use of some of the
acreage. However, the report form does not ask how many acres will be involved.
Reports representing 1 percent of the acres did not indicate intended use.

TABLE 14--U.S. FOREST AND OTHER NONAGRICULTURAL LANDHOLDINGS
BY TYPE OF FOREIGN OWNER, DECEMBER 31, 1988

(NUMBER)

PARCELS WITH | ACREAGE

OWNER OWNERS PARCELS ACRES. PARTIAL EQUIVALENT 2/
INTERESTS 1/

INDIVIDUAL 305 355 107,383 28 106,509
CORPORATION 282 1,130 40 4,703,975
PARTNERSHIP 83 577 22 345,214
ESTATE 2 2 ° 1,611
TRUST 20 27 ° 18,928
OTHER 4 5 ° 865
TOTAL 696 2,096 5,655,900 90 5,177,102

4/ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED ONLY
IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST LESS THAN
100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.

TABLE 15--FOREIGN-OWNED U.S. FOREST AND
OTHER NONAGRICULTURAL LANDHOLDINGS
BY SIZE OF HOLDING, DECEMBER 31, 1988

SIZE OWNERS PARCELS ACRES
(ACRES) (NUMBER ) (NUMBER ) (NUMBER )
LESS THAN 20 87 90 957
20-59 144 145 4,776
60-39 58 66 4,506
100-299 134 168 22,914
300-999 130 199 74,706
1000 OR MORE 146 1,428 5,548,041

TOTAL 696 2,086 5,655,900

23


SUMMARY

Foreign persons reported that) they owned 12.5 million acres, or slightly less
than 1 percent, of privately owned U.S. agricultural land (farmland and forest
land) as of December 31, 1988), This figure is 99,100 acres larger than the
figure at the end of 1987. These and other findings are based on an analysis of
reports submitted to the U.S.| Department of Agriculture under the Agricultural
Foreign Investment Disclosure] Act of 1978.

Information received at the time of reporting shows that forest land accounts for
48 percent of all foreign-owned acreage, cropland for 17 percent, pasture and
other agricultural land for 30 percent, and nonagricultural land for 5 percent.

Corporations own 80 percent of the holdings acreage; partnerships, 11 percent;
and individuals, 7 percent. |The remaining 2 percent is held by estates, trusts,
associations, institutions, and others.

U.S. corporations in which foreign persons have a significant interest or sub-
stantial control reported owning 60 percent of all the foreign-held acreage. The
remaining 40 percent was reported as being held or acquired by foreign persons
not affiliated with a U.S. corporation.

A number of parcels are owned only in part by foreign investors; that is, the
foreign interest in some parcels is less than 100 percent, with the remaining
percentage being owned, for éxample, by a U.S. partnership. When the 12.5
million acres are adjusted for these partial interests, the total foreign-owned
acreage drops to an equivalent of 11.6 million acres.

Foreign persons from the United Kingdom, Canada, France, West Germany, the
Netherlands Antilles, the Netherlands, and Switzerland account for 74 percent
of the foreign-held acreage.| Foreign persons from Japan own only 2 percent
of the foreign-owned acres.

The largest number of acres owned by foreign persons was reported in Maine.
Foreign holdings in Maine account for 10 percent of Maine's privately owned
agricultural land. These holdings represent 14 percent of all the reported
foreign-owned agricultural land nationwide. Three companies own 91 percent of
the foreign-held acres in Maine, all in forest land. Two companies are Canadian
and the third is a U.S. corporation which is partially French owned.

Except for Maine, foreign holdings are concentrated in the South and West with 36
and 35 percent, respectively, of the holdings. Rhode Island is the only State
with no reported foreign-owned agricultural land.

Foreigners do not appear to be taking purchased agricultural land out of produc-
tion. No change in intended use at the time of filing was reported for 93 per-
cent of ‘the acreage. No change in tenure was reported for 41 percent. of the

acres, while some change was reported for 27 percent of the acres. No responses
regarding tenure change were received for the remaining 32 percent of the acres.

Data gathering and analysis |cost the U.S. Department of Agriculture approximately
$376,000 for 1988.

viii



TABLE 8--U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,

DECEMBER 31, 1988--CONTINUED

(NUMBER)
COUNTRY OWNERS PARCELS ACRES,

UNITED ARAB EMIRATES 7 9 2,750
UNITED KINGDOM 2at 316 289/402
URUGUAY 7 9 11,497
U.S.S.R. 2 4 835
VENEZUELA 95 140 25,294
VIETNAM 1 1 152
YUGOSLAVIA 3 3 1,024
MULTIPLE sO 69 51.054
THIRD TIER 16 467 212,661

SUBTOTAL 4/ 6,048 8,584 5,051,849
US/ANDORRA 1 1 3,741
US/ARGENTINA 2 4 4.140
US/AUSTRALIA 7 8 1,283
US/AUSTRIA 8 10 15,585
US/BAHAMAS 15 37 67,526
US/BARBADOS 1 1 44
US/BELGIUM 27 65 66,370
US/BERMUDA 20 73 38,684
US/BRAZIL 7 26 10,401
US/BRITISH VIRGIN

ISLANDS 6 8 3,285
US/CANADA 250 984 1,084,015
US/CAYMAN ISLANDS "1 19 10,744
US/CHILE 1 3 9,929
US/CHINA 1 1 322
US/COLOMBIA 7 8 7,574
US/DENMARK 6 7 2.004
US/ECUADOR 2 2 41549
US/EGYPT 5 4 1,963
US/EL SALVADOR 1 1 12
US/FINLAND 2 14 3,047
US/FRANCE 80 297 1,051,679
US/GERMANY (WEST) 203 361 410,505
US/GREECE 5 6 6,916
US/GUATEMALA 2 3 412
US/GUYANA 1 2 334
US/HONDURAS 4 4 37
US/HONG KONG 8 8 6,056
US/IRAN 6 8 2,302
US/IRAQ 1 2 960
US/TRELAND 4 6 2,918
US/ITALY 14 15 9.667
US/UAPAN o4 135 74,134
US/KOREA (SOUTH) 1 4 75
US/KUWAIT 6 13 7,628
US/LEBANON 5 6 703
US/LIBERIA 15 19 29,945
US/LIBYAN ARAB REPUBLIC 3 280
US/LIECHTENSTEIN 53 91 169,363
US/LUXEMBOURG 22 34 232,911
US/MALAYSIA 1 1 300
US/MEXICO 28 34 89,588
US/NETHERLANDS 100 629 980,921
US/NETHERLANDS ANTILUES 123 201 231,648
US/NEW HEBRIDES 2 2 2,991
US/NEW ZEALAND 2 3 594
US/NICARAGUA 4 2 282
US/NORWAY 3 5 352
US/PANAMA 65 93 75,144
US/PHILIPPINES, 6 6 21079
US/PORTUGAL 2 2 1,683
US/SAUDI ARABIA 8 85 19,923
US/SOUTH AFRICA 2 2 3,309
US/SPAIN 4 13 4.120
US/SWEDEN 8 11 3,424
US/SWITZERLAND 179 358 267.683
US/TAIWAN 42 42 9,943
US/THATLAND 1 3 252
US/TRINIDAD & TOBAGO 1 ; 52
US/TURKEY 1 2 443
US/UNITED ARAB EMIRATES 2 7 1,705
US/UNITED KINGDOM 170 628 2,490,484
US/URUGUAY 2 2 618
US/VENEZUELA 30 52 38,376
US/MULTIPLE 37 64 178,904
US/THIRD TIER 15 124 292.666

SUBTOTAL 2/ 1,742 4,631 7,432,889
TOTAL ALL

LANDHOLDINGS 7.790 13,215 12,484,738

4/ TOTAL INTERES
2/ TOTAL INTERES

14

'S EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
‘SOF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.


Interest in Land

Ninety-two percent of the parcels, accounting for 94 percent of the reported
acres, were acquired in fee interest whole (table 25). Purchase contracts
account for an additional 4 percent of the acres.

Method of Acquisition

Sixty-four percent of the parcels, covering 69 percent of the acres, were
acquired for cash only (table'25). This compares with 16 percent of the parcels,
covering 14 percent of the remaining acres, which were acquired by other method
only.

Land Use

Of the acres acquired in 1987, 36 percent were in forest, 24 percent in pasture,
22 percent in crop, 15 percent in other agriculture, and 3 percent in other
nonagriculture (table 26).

Separating out data on reports for only forest land or forest land and other
nonagricultural land shows that 35 percent of the acquisitions are in these two
land-use categories (table 27). The bulk of the acquisitions, 61 percent, is
primarily farmland, although it includes some forest and/or other nonagricultural
land commonly reported as part of the farmland acquisition (table 26).

TABLE 25--FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE
OF INTEREST, METHOD OF ACQUISITION, AND OWNER-REPRESENTATIVE,

JANUARY 1 - DECEMBER 31, 1988
(NUMBER )
ITEM PARCELS ACRES
REPORTED
INTEREST:
FEE INTEREST WHOLE 263 269,371
FEE INTEREST PARTIAL 1/ 12 5,402
LIFE ESTATE 1 251
TRUST BENEFICIARY 3 268
PURCHASE CONTRACT 7 12,444
OTHER 1 30
TOTAL 287 287,763
METHOD OF ACQUISITION:
CASH ONLY 185 197,784
CREDIT ONLY 22 15,963
TRADE ONLY 10 6,430
OTHER METHOD ONLY 47 39,507
CASH & CREDIT ONLY 18 12,759
CASH & TRADE ONLY 2 15,240
CASH & ANY OTHER COMBINATION 1 30
NONCASH. COMBINATIONS 2 50
TOTAL 287 287,763
OWNER-REPRESENTATIVE:
ATTORNEY 104 127,695
MANAGER 52 77,353
AGENT . 24 12,119
OTHER 86 67,534
FOREIGN OWNER 24 3,062
TOTAL 287 287,763

4/ THE FEE INTEREST PARTIAL IS USED FOR THOSE PARCELS WHICH ARE
OWNED ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE
INTEREST LESS THAN 100 PERCENT.

31


TABLE 26--USE OF U

«8. [AGRICULTURAL LAND ACQUISITIONS
VANUARY { - DECEMBER 31, 19

BY COUNTRY OF FOREIGN OWNER,
88

(ACRES)
|
COUNTRY cropLano | pasture | FOREST otHeR —[oTHER NoN- | TOTAL
AGRICULTURE | AGRICULTURE

ARGENTINA ° ° 147 ° ° 447
BERMUDA 414 38 10 ° ° 182
CANADA 104 358 876 a5 108 4,228
EGYPT ° 8 33 4 10 55
FRANCE 50 ° ° 45,200 0 18,250
GAMBIA ° 294 ° ° ° 294
GERMANY (WEST) 8,237 414 3,312 232 1.315 10,810
ITALY 60 100 ° ° 160
YAPAN 46, 108 9,014 4,062 4,030 105° 27,319
YORDAN 27 ° ° ° ° 27
KOREA (SOUTH) 100 ° ° ° ° 100
LEBANON 1,208 ° ° 251 2 1,458
LIECHTENSTEIN 131674 4,469, 114 ° 1.686 16.643
MALAYSIA ° 11933 ° ° ° 11933
MEXICO 40 17 ° ° ° 57
MONTSERRAT 63 40 40 ° 2 445
NETHERLANDS ato 297 ° 135 ° 742
PANAMA ° ° ° ° 20 20
SAUDI ARABIA 88 ° 314 387 ° 739
SOUTHERN RHODESIA 134 30 67 ° 2 230
SWEDEN ° ° to1 ° ° to1
SWITZERLAND 2,166 397 104 377 142 3,126
TAIWAN ° ° 96 ° ° 96
TRINIDAD & TOBAGO 18 ° 35 ° 5 58
UNITED KINGDOM 80 192 7,356 309 3 7.930
VENEZUELA 304 ° ° 16 ° 320
MULTIPLE ° 103 ° ° ° 103
THIRD TIER ° 56 175 50 a7 308

SUBTOTAL 4/ 39,879 14,440 19,542 18,076 3.424 89,934
US/BAHAMAS ° 999 ° ° ° 999
US/BARBADOS at ° ° ° ° 4t
US/BELGIUM ° 199 ° ° ° 199
US/BERMUDA 157 ° ° 406 ° 563
US/BRAZIL 200 ° ° ° ° 200
US/BRITISH VIRGIN

ISLANDS ° ° 451 “0 ° 451
US/CANADA 2,639 170 142 497 222 86,670
US/CHILE ° 9.738 ° ° ° 9,738
US/COLOMBIA ° 2,359 ° ° ° 2,359
US/DENMARK ° ° 160 ° ° 160
US/FRANCE 400 31 2,046 12,597 3 15,077
US/GERMANY (WEST) 491 19 24 374 134 1,042
US/GREECE ° ° 147 ° ° 147
US/HONG KONG 97 ° ° ° ° 97
US/TTALY 3,927 ° 89 ° 264 3,680
US/JAPAN 2,541 31,588 41,309 2,096 230 37,764
US/LIECHTENSTEIN ° ° ° 14 ° 14
Us/MEXICO ° ° ° 4,594 ° 4,594
US/NETHERLANDS 1,108 9,792 115 +103 366 14,484
US/PANAMA 30 184 ° ° ° 274
US/SAUDI ARABIA 10 ° 25 ° 5 40
US/SPAIN ° 356 ° ° ° 356
US/SWITZERLAND 8,088 27 722 163 4,274 14,674
US/UNITED KINGDOM 1,976 153 2,151 703 1,422 6,405
US/MULTIPLE 770 132 ° 508 ° 41410

SUBTOTAL 2/ 22,738 85,744 90,381 25,655 3.917 198,432
TOTAL ALL

LAND ACQUISITIONS 62,614 70.154 103,923 43,734 7.341 287.763

i
4/ TOTAL INTERESTS EXCLUDING U.S.

2/ TOTAL INTERESTS OF

U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

CORPORATIONS WITH FOREIGN SHAREHOLDERS.

TABLE 27--U.S. FOREST AND OTHER NONAGRICULTURAL LAND
ACQUISITIONS OF FOREIGN OWNERS BY STATE,
| _vAMUARY 1 - DECEMBER 91, 1988
STATE PARCELS ACRES VALUE
AND U.S. REPORTED (NUMBER) (4,000
TERRITORY (NUMBER) DOLLARS) 4/
ALABAMA 4 13,100 14,915
‘coLORADO 1 255 14,790
FLORIDA 1 23 47
GEORGIA 6 3,271 3,136
KENTUCKY 1 898 212
MAINE 3 17,795 2,819
MICHIGAN 4 414 3t
MINNESOTA 2 53,236 2,200
NEW HAMPSHIRE 4 401 440
NEW YORK 1 4g4 73
NORTH CAROLINA 1 112 209
OREGON 1 235 1,268
PENNSYLVANIA 1 512 45
SOUTH CAROLINA 3 1.231 2,083
VERMONT 5 T1748 1,756
VIRGINIA 8 723 11509
WASHINGTON 5 303 380
TOTAL, 45 100,141 42,923
4/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

32


TABLE 11--USE OF U.S.

DECEMBER 31,

AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,
1988--CONTINUED

(acres)
couNTRY croptano | pasture | Forest oruer —oruer non- | rorat
| AGRICULTURE | AGRICULTURE
urusuay b.a78 7.916 490 ° 713 44,497
U.S.S.R. | "204 130 177 55 269 835
VENEZUELA 10,101 4,995 4,427 2,246 3,525 25,294
VIETNAM ° ° 152 ° ° 452
YUGOSLAVIA 928 ° 10 ° 86 4,024
MULTIPLE 6.961 9.698 5,882 25,930 2,583 51,054
THIRD TIER 14.675 3080 196,338 592 976 212.661
SUBTOTAL 1/ 1,286,399 1,462,317 1,695,308 305,179 302,646. 5,051,849
US/ANDORRA 200 3,541 ° ° ° 3,741
US/ARGENTINA ‘TOT 3,191 40 ° 208 4,140
US/AUSTRALIA 348 304 345 87 229 11283
US/AUSTRIA 2,232 12,525 725 oO 103 15,585
US/BAHAMAS, 15,605 38,539 4,291 10,260 4,831 67.526
US/BARBADOS [at ° ° ° ° 44
US/BELGIUM 17,891 36,667 8,766 +856 1,480 66,370
US/BERMUDA 1,914 1,393 15,295 8,094 11,988 38,684
US/BRAZIL 21977 ° 1040 429 40,404
US/BRITISH VIRGIN
ISLANDS eas 1,654 204 15 3,205
US/CANADA 333,086 618,863 28,615 61,352 1,084,015
US/CAYMAN ISLANDS 366 1,618 o17 614 10,744
US/CHILE 9,929 ° ° ° 9,929
US/CHINA 316 ° ° o. 6 322
US/COLOMBIA 589 6,935 50 ° ° 7,574
US/DENMARK 292 235 1,461 10 6 2,004
US/ECUADOR ° 1,549 ° ° ° 1,549
us/EGYPT 620 585 875 149 4 tleea
US/EL SALVADOR 12 ° ° ° ° 12
US/FINLAND ° ° 2,975 oO 72 3,047
US/FRANCE 35,208 33,170 942,830 32,038 8,433 1,051,679
US/GERMANY (WEST) 112,295 218,065 23,922 15,843 40,280 410,505
US/GREECE 23 31534 147 ° 3,215, 6.916
US/GUATEMALA ° 392 ° 20 °o 412
US/GUYANA ° ° ° 334 ° 334
US/HONDURAS 37 ° ° ° ° 37
US/HONG KONG 720 5,199 110 ° 27 6,056
US/IRAN 747 5 665 402 2,302
US/TRAQ ° ° ° 160 960
US/TRELAND 672 182 319 3 2,918
US/TTALY 4,461 903 674 1,088 9.667
US/UAPAN 32.707 12,481 3,570 51662 71131
US/KOREA (SOUTH) ° 63 ° 12 78
US/KUWAIT 548 5,615 772 604 89 7,628
US/LEBANON 200 140 133 209 at 703
US/LIBERIA .871 18,749 4,830 1,032 3,463 29,945
US/LIBYAN ARAB REPUBLIC ° ° ° 277 3 280
US/LIECHTENSTEIN 32.240 144,759 7,869 3,350 11,145 169,363
US/LUXEMBOURG 141588 1641740 21739 46,066 Tso 232,914
US/MALAYSIA ° ° ° 300 ° 300
US/MEXICO 4,sas 70,887 1,032 40,751 2,372 89,588
US/NETHERLANDS 58,445, 189, 175 66,672 28,816 37,213 380,321
US/NETHERLANDS ANTILLES 67.795 148,831 15,199 9,752 201071 234,648
US/NEW HEBRIDES. }t.300 1,533 ° ° 158 2,991
US/NEW ZEALAND ° 589 ° ° 5 594
US/NICARAGUA ° 242 40 ° ° 282
US/NORWAY 66 30 140 58 58 352
US/PANAMA 25,424 36,930 7,485 3,366 1,942 75,144
US/PHILIPPINES 882 59 50 32 11056 21079
US/PORTUGAL 429 151 °o ° 103 1,683
US/SAUDI ARABIA Bui7t 5,622 6,133 22t 2,776 19,923
US/SOUTH AFRICA $200 11834 178 50 50 3,308
US/SPAIN 2.425 707 403 B47 38 4,120
US/SWEDEN 2.203 313 143 33 732 31424
US/SWITZERLANO 410,710 48,604 65,643 26,749 15,977 267,683
US/TAIWAN te96 2,608 21339 ° 400 91943
US/THATLAND 175 ° ° 7 ° 252
US/TRINIDAD & TOBAGO 20 ° ° ° ° 20
US/TURKEY 350 93 ° ° ° 443
US/UNITED ARAB EMIRATES 126 1,532 ° ° 47 1,705
US/UNITED KINGDOM 44,478 185,299 2,201,809 20,488 38,410 2,490,484
US/URUGUAY ° 550 40 3 618
US/VENEZUELA 34.480 973 370 1,094 38,376
US/MULTIPLE Blo36 5,535 1,527 1,442 178,904
US/THIRD TIER 1371884 11994 5.784 8.763 282,666
SUBTOTAL 2/ 829,718 1,723,575 4,325,036 264,961 289,599 7,432,889
TOTAL ALL
LANDHOLDINGS 2,116,117 3,185,892 6,020,944 870,140 592,245 12,484,738

4/ TOTAL INTERESTS EXCLUDING U.S.

2/ TOTAL INTERESTS OF U.S.

CORPORATIONS WITH FOREIGN SHAREHOLDERS.

20

CORPORATIONS WITH FOREIGN SHAREHOLDERS.


PREFACE

This report is made pursuant to section 5 of the Agricultural Foreign Investment
Disclosure Act of 1978, which, among other things, requires the Secretary of
Agriculture to prepare an analysis of foreign ownership of U.S. agricultural
land. The act requires an annual report to the President and the Congress on a
calendar-year basis. This report covers information received through December
31, 1988.

CONTENTS
Page
LIST OF TABLES .
INTRODUCTION . re ee
Summary of the Act and/ Regulations
Definitions . rr

ANALYSIS OF DATA REPORTED UNDER THE ACT
Holdings .....-. Low...
Acquisitions 2... ee ee ee tt
Dispositions, Land-Use| Changes, and Changes in Status .
Trends

PROGRAM COSTS

APPENDIX: REPORT FORM ASCS)-153

iv



TABLE 38--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY U.S. REGION,
UANUARY 1 - DECEMBER 31, ‘1988

(NUMBER)
SOUTH West NORTHEAST NORTH CENTRAL
COUNTRY
PARCELS | ACRES | PaRceLs | Acres | paRcets | acres | PaRcELs | AcRES
REPORTED REPORTED REPORTED REPORTED

AUSTRIA 1 80 ° ° ° ° ° °
BAHAMAS ° ° ° ° 1 17 ° °
BERMUDA 2 13,586 ° ° 1 229 1 68
BRITISH VIRGIN ISLANDS 2 170 ° ° ° ° ° °
CANADA 8 493 7 6.710 17 1, 162 ° °
COLOMBIA 3 6,220 ° ° ° ° ° °
DOMINICAN REPUBLIC 1 18 ° ° ° ° ° °
EGYPT 1 287 ° ° ° ° ° °
FRANCE 2 25 1 16,769 ° ° ° °
GERMANY (WEST) 24 3,000 1 480 5 887 5 628
GUATEMALA 2 10 ° ° ° ° ° °
HONG KONG 1 158 3 280 ° ° ° °
TRAN 2 163 ° ° ° ° 9 °
IRAQ 4 35 ° ° ° ° ° °
ITALY 1 1,140 ° ° ° ° ° 9
UAPAN ° ° 1 277 ° ° ° °
LEBANON 1 Bot ° ° ° ° ° °
LIECHTENSTEIN 2 179 3 2,292 ° ° ° °
MEXICO 3 402 ° ° ° ° ° °
NETHERLANDS 4 263 ° ° 5 152 ° °
NETHERLANDS ANTILLES 5 15,346 3 174 34 2,273 ° °
PANAMA 1 614 8 TAT ° ° ° °
SAUDI ARABIA 2 6 ° ° ° ° ° °
SWITZERLAND. 7 3,128 1 4113 5 176 1 105
TRINIDAD & TOBAGO 2 10 ° ° ° ° ° °
TURKS ISLANDS ° ° ° ° 1 1,270 ° °
UNITED KINGDOM ° ° ° ° 1 50 1 93
uRUGUAY 4 3.581 ° ° ° ° ° °
VENEZUELA 2 76 ° ° T 525 ° °
THIRD TIER 1 86 ° ° ° ° 1 14,654

SUBTOTAL 4/ 88 949,847 28 27,819 74 7,401 9 12,548
US/BAHAMAS ° ° 3 5.940 ° ° ° °
US/BELGIUM ° ° ° ° 1 140 ° °
US/BRITISH VIRGIN

ISLANDS ° ° ° ° ° 6 9,590
US/CANADA 5 3 475 7 337 10 3,032
US/CAYMAN ISLANDS 4 ° ° ° ° ° °
US/EGYPT 1 ° ° ° ° ° °
US/FRANCE 6 ° ° 31 132,521 ° °
US/GERMANY (WEST) 7 1 187 ° ° ° °
US/HONG KONG 2 ° ° ° ° ° °
US/JAPAN 2 ° ° ° ° ° °
US/LIECHTENSTEIN ° 1 25 ° ° 2 ant
US/NETHERLANDS 3 4 10,492 1 40 1 60
US/NETHERLANDS ANTILLES. 2 ° ° ° ° 2 3,828
US/SWEDEN 6 ° ° ° ° ° °
US/SWITZERLAND 15 1 20 1 14 ° °
US/UNITED KINGDOM a7 62 262.777 12 214 3 530
US/VENEZUELA ° ° ° 2 104 ° °
US/MULTIPLE 5 ° ° ° ° ° °

SUBTOTAL 2/ 132 49,020 75 279,916 55 133,370 24° 17,452
TOTAL ALL

LAND DISPOSITIONS 220 98,867 103 307,735 129° 140,771 33 30,000

A/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS,
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

Trends

The data for 1988 are skewed toward the first part of the year, whereas the data
for 1981 through 1987 are generally more evenly distributed throughout the year
(table 40). This has also been the case for current year data in past AFIDA
reports. This can be explained primarily in terms of the AFIDA reporting
requirements, which allow persons 90 days to report their transactions to USDA.
Consequently, not all of the transactions occurring in the 90 days preceding the
closing date of the report are reported to USDA by that date. Some of the
skewing is also due to reports that are not timely filed and/or completed by the
closing date. The foregoing discussion also means that the current data, and in
some instances data for prior years, are understated and should be regarded ‘as

39


percent of the acres (table 35). In comparison, individuals accounted for 23
percent of the owners, 13 percent of the parcels, and 1 percent of the acres.

Size of Disposition. The most acreage disposed of was for parcels with 1,000 or
more acres, accounting for 96 percent of the acres (table 36). As should be
expected, sales prices per acre were higher for smaller parcels, although not
necessarily the smallest parcels. Average selling price for parcels of less than
20 acres was $20,164 per acre, compared with $389 per acre for parcels of 1,000

or more acres. Average selling price of all reported dis- positions was $527 per
acre,

Country of Origin. U.S./U.K. and U.S./France corporations disposed of the most
acreage--75 percent (table 37). Most of the dispositions occurred in the West,
21 percent of the parcels covering 53 percent of the acres (table 38). U.S./U.K.
corporations disposed of 85 percent of the acres in the region. The Northeast
accounted for an additional 27 percent of the disposed acres covering 24 percent

of the acres. U.S./France corporations disposed of 94 percent of the acres in
the region.

TABLE 35--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN
OWNER, JANUARY 1 - DECEMBER 31, 1988

(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE
REPORTING] REPORTED INTEREST EQUIVALENT 2/
REPORTED 1/
INDIVIDUAL 47 62 5,268 5 5,081
CORPORATION 127 384 520,097 5 515,683
PARTNERSHIP 19 29 40,022 2 39,999
TRUST 7 9 11,884 ° 11,884
OTHER 1 1 102 ° 102
TOTAL 201 485 577,373 12 572,749

4/_ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST
LESS THAN 100 PERCENT.

2/_ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED
BY THE PERCENTAGE HELD BY THE FOREIGN OWNER

TABLE 36--DISPOSITIONS OF FOREIGN-OWNED U.S. AGRICULTURAL LAND

BY SIZE OF DISPOSITION, JANUARY 1 - DECEMBER 31, 1988
OWNERS PARCELS SELLING
SIZE REPORTING REPORTED ACRES PRICE
(ACRES) (NUMBER ) (NUMBER ) (NUMBER ) (4,000
DOLLARS) 1/

LESS THAN 20 34 47 366 7,380
20-59 25 44 842 5,715
60-99 24 25 1,657 7,067
100-299 45 7 7,644 32,747
300-999 34 83 18,635 37,822
1000 OR MORE 42 209 548,262 213,509

TOTAL 201 485 577,373 304,240

4/ SELLING PRICE IS VALUE AT TIME OF DISPOSITION.

37


Maine has the largest amount of foreign-owned U.S. agricultural land, 1,799,794
acres, or 10 percent of the privately owned agricultural land in the State and
approximately 14 percent of the reported foreign-owned agricultural land in the
United States. Most of the foreign-owned agricultural land in Maine, 1,637,677
million acres, is timber land owned by three large companies. One company owns
various percentage interests in 596,262 acres, another company owns 231,600
acres, and the third company, accounting for 809,815 acres, is a U.S. company:
which is a foreign person because it passed the AFIDA threshold defining foreign
ownership.

Oregon, Hawaii, Louisiana, and Arizona have the next largest proportions of
reported foreign-owned agricultural land to all privately owned agricultural land
in their States. Texas has the second largest amount of foreign-owned acreage,
1,029,885 acres, but only 0.7 percent of the privately owned agricultural land in
Texas.

Characteristics of Foreign Owners

Type of Foreign Owner. Individuals are the most common type of owner. They
account for 43 percent of the owners, followed by corporations, 39 percent, and
partnerships, 14 percent (table 2). The remaining 4 percent of the owners are
estates, trusts, institutions, associations, and others such as real estate in-
vestment trusts, church groups, and foreign organizations not identifiable with
the above categories.

Corporations own 49 percent of the parcels and 80 percent of the acreage; indi-
viduals, 33 percent of the parcels and 7 percent of the acreage; partnerships, 15
percent of the parcels and 11 percent of the acreage; and all others, 3 per-
cent of the parcels and 2 percent of the acreage. When partial interests are
taken into account, foreign-owned acreage drops from 12.4 million acres to 11.6
million, but distribution among the types of owners remains virtually the same.

Corporate-held parcels average 1,535 acres, or 3,287 acres per holder, while
individual-held parcels average 214 acres, or 280 acres per holder. Partnership
holdings average 690 acres per parcel, or 1,216 acres per holder, and all other
holdings average 562 acres per parcel, or 707 acres per holder.

TABLE 2--U.S. AGRICULTURAL LANDHOLDINGS BY TYPE OF FOREIGN OWNER,
DECEMBER 31, 1988
(NUMBER)

PARCELS WITH | ACREAGE
OWNER OWNERS PARCELS ACRES PARTIAL
INTERESTS 41/ | EQUIVALENT 2/

INDIVIDUAL 3,342 4,369 936,053 265 857,185
CORPORATION 3,035 6,501 9,976,640 315 9,234,134
PARTNERSHIP 1,126 1,984 1,369,244 243 1,264,851
ESTATE 12 15 2,782 2 2,741
TRUST 252 307 180,905 8 176,307
INSTITUTION 3 3 1,075 1 1,015
ASSOCIATION 1 2 5,780 2 3,988
OTHER 19 34 12,259 ° 12,259

TOTAL 7,780 13,215 12,484,738 836 11,552,480

4/_ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST LESS
THAN 100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.


forestry and intensive uses of land such as orchards and vegetable farms. The
different unit sizes due to differences in use may also explain part of the
acreage differences in foreign-held land among the States.

In States where foreigners own few parcels, the possibility of one or two unusual
situations prevents any generalization about concentration. For example, one
large timber holding by a foreigner in a State with a large number of field-crop
farms could easily be misinterpreted to suggest that a single foreigner was
taking over the farming of the State.

Purchase Price and Value of Holdings. As noted earlier under “Type of Foreign
Owner," corporations own 80 percent of the acreage. However, corporate purchase

price and nonpurchase price (estimated value) at time of acquisition account for
only 68 percent of the total price (table 5). The average per acre purchase
price and nonpurchase price (estimated value) at time of acquisition was the
lowest for corporations at $659; followed by individuals, $968; all others,
$1,313; and partnerships, $1,428.

For recent acquisitions, purchase price generally will be close to, but not
necessarily the same as, current value. As time passes, purchase price becomes a
poor indicator of current value. For this reason, reported current value by

date of acquisition was adjusted to February 1987 for all years prior to 1987
(table 6). The total adjusted current value indicates a 24-percent decrease from
the reported current value. The adjustment factor was based on the national

TABLE 4--FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY SIZE OF HOLDING, DECEMBER 31, 1988

SIZE OWNERS PARCELS ACRES

(ACRES) (NUMBER ) (NUMBER) (NUMBER )
LESS THAN 20 950 1,027 10,165
20-59 1,590 1,811 55,340
60-99 820 1,070 63,707
100-289 1,699 2,259 299,920
300-999 4,599 2,448 889,886
1000 OR MORE 1,132 4,600 11,165,720
TOTAL 7,790 13,215 12,484,738

TABLE 5--VALUE OF U.S. AGRICULTURAL LANDHOLDINGS

BY TYPE OF FOREIGN OWNER, DECEMBER 31, 1988
ACRES ACRES.
WITH PURCHASE WITH NON-
OWNERS PURCHASE PRICE 4/ NON- PURCHASE
OWNER (NUMBER) PRICE (1,000 PURCHASE PRICE 1/
REPORTED DOLLARS) PRICE (4,000
(NUMBER) REPORTED DOLLARS)
(NUMBER )
INDIVIDUAL 3,342 795,056 868,693 140,997 37,187
CORPORATION 3,035 8,828,611 5,734,321 1,148,029 839,127
PARTNERSHIP 1,126 1,115,471 1,736,421 253,773 218,698
ESTATE 12 2,082 3,286 700 59
TRUST 252 165,252 220,587 15,653 5,735
INSTITUTION 3 1,075 1,367 ° °
ASSOCIATION 4 5,780 10,400 ° °
OTHER 19 9,439 11,389. 2,820 2,203
TOTAL 7,790 10,922,766 8,586,464 1,561,972 1,103,009

4/ PURCHASE PRICE AND NONPURCHASE PRICE AT TIME OF ACQUISITION.


FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LAND THROUGH DECEMBER 31, 1988, by J. Peter
DeBraal, Resources and Technology Division, Economic Research Service, U.S.
Department of Agriculture. ERS Staff Report No. AGES 89-14.

ABSTRACT

Foreigners owned 12.5 million acres of U.S. agricultural land as of December 31,
1988. This is slightly less than 1 percent of all privately held agricultural
land and 0.5 percent of all land in the United States. These and other findings
are based on an analysis of reports submitted in compliance with the Agricultural
Foreign Investment Disclosure Act of 1978.

Keywords: Agricultural land, foreign landownership, landholdings, land acqui-
sitions, land dispositions. .

i i i ed

* This report was prepared for limited distribution to the research community *
* outside the U.S. Department of Agriculture. *
ee ed

1301 New York Avenue, NW.
Washington, DG 20005-4788 April 1989

a
pe
Bs


|
|
|

Most of the acres acquired during this period were in the South--39 percent

of the acres.

acquired 24 percent of these acres (table 24).
38 percent of the acres in the West and U.S./Canada corporations acquired 57 and
85 percent of the acres in the Northeast and North Central regions, respectively.

Foreign persons from Japan not affiliated with a U.S. corporation
U.S./Japan corporations acquired

TABLE 24--FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LAND ACQUISITIONS BY U.S. REGION,

UANUARY 1 - DECEMBER 31, 1988
| (NUMBER)
SOUTH WEST NORTHEAST NORTH CENTRAL
COUNTRY j
PARCELS ACRES PARCELS ACRES PARCELS ACRES PARCELS ACRES
REPORTED | REPORTED REPORTED REPORTED
ARGENTINA 1 147 ° ° ° ° ° °
BERMUDA 2 182 ° ° ° ° ° °
CANADA 2 42 7 383 10 803 ° °
EGYPT 2 55 ° ° ° ° ° °
FRANCE 3 50 1 15,200 ° ° ° °
GAMBIA 1 294 ° ° ° ° °. °
GERMANY (WEST) 19 8,384 6 1,569 2 277 1 0
ITALY ° ° 1 160 ° ° ° °
UAPAN 6 26,289 3 1,030 ° ° ° °
JORDAN 1 27 ° ° ° ° ° °
KOREA (SOUTH) ° ° ° ° 4 100 ° °
LEBANON 2 1,458 ° ° ° ° ° °
LIECHTENSTEIN 3 16,529 ° ° ° ° 1 4
MALAYSIA ° ° 1 1,933 ° ° ° °
MEXICO ° ° ° ° ° ° 1 7
MONTSERRAT ° ° ° ° 1 145 ° °
NETHERLANDS 2 297 1 360 1 85 ° °
PANAMA 1 20 ° ° ° ° ° °
SAUDI ARABIA 2 701 1 88 ° ° ° °
SOUTHERN RHODESIA 1 230 ° ° ° ° ° °
SWEDEN ° ° ° 1 101 ° °
SWITZERLAND 4 1,767 3 612 2 300 2
TAIWAN 1 96 ° ° ° ° °
TRINIDAD & TOBAGO ° ° ° ° ° ° 1
UNITED KINGDOM 4 293 1 309 3 7,248 1
VENEZUELA ° ° ° ° ° ° 1
MULTIPLE 1 103 ° ° ° ° °
THIRD TIER 3 308 ° ° ° ° °
SUBTOTAL 4/ ei 87,272 25 21,644 24 9,059 8 1,356
US/BAHAMAS ° ° 1 999 ° ° °
US/BARBADOS, ° ° 1 44 ° ° °
US/BELGIUM 1 199 ° ° ° ° °
US/BERMUDA ° ° 5 563 ° ° °
US/BRAZIL ° ° ° ° ° ° 1
US/BRITISH VIRGIN
ISLANDS 1 451 ° ° ° ° °
US/CANADA 9 4,058 2 1,065 2 16,819 3 54,728
US/CHILE ° ° 2 9,738 ° ° °
US/COLOMBIA 1 2,359 ° ° ° ° °
US/DENMARK ° ° 1 160 ° ° °
US/FRANCE 5 2,093 4 1,002 5 1,982 °
US/GERMANY (WEST) 3 458 2 201 ° ° 2
US/GREECE 1 147 ° ° ° ° °
US/HONG KONG ° ° 1 97 ° ° °
US/ITALY 1 3,552 ° ° 1 128 °
US/JAPAN . 8 1,322 14 32,199 ° ° " 4,243
US/LIECHTENSTEIN 1 14 ° ° ° ° °
US/MEXICO 3 4,594 ° ° ° ° °
US/NETHERLANDS 6 1,706 16 10,706 2 142 4 1,930
US/PANAMA 1 271 ° ° ° ° ° °
US/SAUDI ARABIA 1 40 ° ° ° ° °
US/SPAIN ° ° 1 356 ° ° °
US/SWITZERLAND 42 7,743 4 3,868 1 60 °
US/UNITED KINGDOM 12 4,164 4 804 1 190 9 1,247
US/MULTIPLE 2 664 4 746 ° ° ° °
SUBTOTAL 2/ 68 3,835 62 62,545 12 19,321 30. 62,734
TOTAL ALL
LAND ACQUISITIONS 129° 111,107 87 84,189 33 28,380 38 64,087
4/ | TOTAL INTERESTS EXCLUDING U.S. |corporatzons WITH FOREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
30



parcels, 45 percent, covering
This compares with
which were acquired by credit only, and 6 percent
of the parcels, containing 25
The other

only (table 10).
18 percent of the acreage,

other method only.

33 percent of the acreage, were acquired for cash
33 percent of the parcels, containing

percent of the acreage, which were acquired by
method only category includes mergers, corpor-

ations that became foreign because foreign persons obtained a significant
interest or substantial control in the corporations, or an individual exchanging

land for stock in a new corporation.

The cash and credit only category covers an

additional 9 percent of the parcels and 11 percent of the acres.

Relationship of Foreign Owner! to Representative

Forms were most commonly completed by the attorneys, accounting for 28 percent of

the parcels and 27 percent
group is the other category,
peopl

of| the total acreage (table 10).

e associated with or employed by corporations.
filed forms for 24 percent of the parcels,

The second largest
which includes accountants, family members, and
People in the other category
representing 24 percent of the

foreign-held agricultural land.

Land Use

Forty-eight percent of the reported foreign-owned holdings of agricultural land
is timber or forest land (table 11); cropland accounts for only 17 percent.

Foreign-owned cropland, pasture,

for example,

orchards and vineyards)

and other agricultural land (which includes,
total 47 percent of all foreign-owned

holdings, but only 0.4 percent of all privately held agricultural land in the

United States.

The other nonagri
the reported foreign-held acres.

culture category accounts for 5 percent of
Nonagricultural land includes acreage such

as the homestead and roads commonly reported as part of the agricultural land-

holding or land that is idle
These land+use figures should be used with
they reflect only informatio:

for agriculture.

for any changes in land use,

Foreign persons from the Uni
the reported forest land holdings.
an additional 26 and 18 percent of the forest land, respectively.
third tier foreign persons own 6 percent of the forest land.
holdings are attributable to

now but its last use within the past 5 years was
caution because

n received at the time of filing and do not account
which may have occurred subsequent to filing.

ted Kingdom own 2,279,507 acres, or 38 percent, of
Foreign persons from Canada and France hold
Unidentifiable
The large U.K.

two companies--a U.S./U.K. corporation with 70

parcels covering 1,577,287 acres and a U.S./U.K. corporation and its subsidiary

with 27 parcels covering 474

933 acres.

Foreign persons from West Germany, the Netherlands Antilles, and Canada own the

most cropland, 890,094 acres
largest holdings of cropland
Un.

7 percent, respectively.
additional 7 percent of the

Foreign persons from Canada,

Netherlands Antilles, own 45
therlands Antilles, the Netherlands, Luxembourg,

Foreign persons from the Ne

, or 42 percent. Foreign persons with the next
are from Switzerland and Liechtenstein, with 8 and
‘identifiable Third Tier foreign persons own an
cropland.

West Germany, the United Kingdom, and the
percent, or 1,439,042 acres of the pastureland.

Japan, Switzerland, Liechtenstein, and Panama own an additional 38 percent, or

1,217,600 acres.

The largest group of owners
the Netherlands Antilles and

of other agricultural land are foreign persons from
Canada each with 12 percent of the acres, and France

18



Want Another Copy? It’s Easy.

Just dial 4-800-999-6779. Toll free.

Ask for Foreign Ownership of U.S. Agricultural Land Through December 31, 1988
(AGES 89-14).

The cost is $5.50 per copy. For non-U.S. addresses, add 25 percent (includes
Canada). Charge your purchase to your VISA or MasterCard, or we can bill you. Or
send a check or purchase order (made payable to ERS-NASS) to:

ERS-NASS
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We'll fill your order via ‘jst class mail.

Can You Use an Electronic Database?

An electronic database containing the statistics in this report is also available. The
database is in the form of EBCDIC files on an unlabeled, 9-track, 6250 b.p.i. com-
puter tape. The database costs $130.

Write to the above address and ask for AFIDA Database (order #87015). Or use
our toll-free number, 1-800-999-6779.

For further information on this database, write Peter DeBraal, Room 408, 1301 New
York Avenue, NW, Washington, DC 20005-4788 or phone 1-202-786-1425.

_sueenoemenmanonmaonsanstt asesaeoeecoceeeeseoncasusasassstoe snssosesonceseaest



if
TABLE 40--ACQUISITIONS AND DISPOSITIONS

uanuaRY 1981 - DECEMBER 1988--CONTINUED

OF FOREIGN-OWNED U.S. AGRICULTURAL LAND, BY DATE

DATE 7
PARCELS ACRES VALUE PARCELS ACRES VALUE
REPORTED) (NuMBER) | (1,000, REPORTED (NUMBER) | (1,000
(NUMBER) DOLLARS)4/ (NUMBER) DOLLARS) 4/
986 |
YANUARY 28 a.ait 25,005 17 3,255 4,350
FEBRUARY 22 5.278 4,925 47 41255 2i4ia
MARCH 38 33,768 50,939. 15 12,915 10,331
APRIL laa 25,077 134,662 22 5,520 4,196
MAY ‘93 1,601,516 91,720 B84 1,634,658 19,987
JUNE jaz 33,299 38,370 33 17,741 4,129
JULY ‘30 24,931 31,734 19 18,584 21,440
Aucust 34 8.277 47.743 28 8.139 141428
SEPTEMBER ‘32 381061 531388 22 41732 4.527
ocToBER 37 40,848 241052 32 141239 41250
NOVEMBER jaa 14.579 16,962 30 81936 3) 105
DECEMBER 1. 40,418 77.565 70 521846 42,990
TOTAL 491,871, 163 867,035 389 1,776,820 196,147
1987
JANUARY lay 4,145 9,770 22 4,435 7,153
FEBRUARY 26 12,574 39,329 21 5,299 5,974
MARCH 48 132,300 36,000 36 32,566 17.616
APRIL, 58 60.175 28,922 70 27.644 30,024
may 37 44,334 291770 27 9\6a4 18,620
UNE 4a 202) 145 30.113, 53 226,266 241877
ULY 35 26, 109 26,205 32 291930 44.265
AucusT 39 241330 231897 33 6.985 31,029
SEPTEMBER 32 91913 251674 39 $1953 43, 108
OCTOBER 59 22/891 53.285 36 51134 71383
NOVEMBER 35 135/552 201807 30 441348
DECEMBER 69 44.964 41,912 138 33.695
TOTAL 499 719,429 365,684 537 398,939
1988, j
UANUARY \46 36,023 49,835 a7 22,393
FEBRUARY 34 25,903 16.312 44 45.908
MARCH ai 35,280 84,008 st 54,641
APRIL 29 30.716 21,308 49 265.745
MAY 29 47.436 41.248 43
UNE 25 151871 531650 35
YULY a7 22.876 40,398 38
AUGUST 24 49.391 6.810 50
SEPTEMBER 17 6.660 121280 28
OCTOBER 19 66,875 13.975 38
NOVEMBER 4 297 2,243 8
DECEMBER 1 447 155 °
TOTAL 200 307,475 336,223 485 877,373

i/ VALUE IS PURCHASE price OR NONPURCHASE PR:

42

ICE (ESTIMATED VALUE) AT TIME OF ACQUISITION.



Characteristics of Foreign Owners

Type of Foreign Owner. Corporations reported acquiring 67 percent of the parcels
and 75 percent of the acres (table 19). Individuals account for 4 percent of the
acres; partnerships, 10 percent; and others, 1 percent. When partial interests
of foreign investors are taken into account, the 287,763 acres drop to an acreage
equivalent of 284,287, but the distribution among the types of owners remains
virtually the same.

Corporations acquired an average of 1,124 acres per parcel, or 1,749 acres per
owner, compared with individuals who acquired an average 336 acres per.parcel, or
254 acres per holder. Partnerships reported acquisitions averaging 1,100 acres
per parcel, or 1,365 acres per owner; and others reported 178 acres per parcel
and per owner.

TABLE 18--U.S.

AGRICULTURAL LAND ACQUISITIONS OF FOREIGN OWNERS BY STATE

UANUARY 1 - DECEMBER 31, 1988
STATE | VALUE STATE VALUE
AND U.S. ACRES (4,000 AND U.S. ACRES (1,000
TERRITORY (NUMBER) DOLLARS) TERRITORY (NUMBER) DOLLARS)
iV a
ALABAMA 14,94¢| 17,075 |MISSOURI 32 1,800
ARIZONA 3,350, 21,297 |NEW HAMPSHIRE 101 440
ARKANSAS. 16,053, 9,560 |NEW JERSEY 142 448
CALIFORNIA 7,200 54,029 [NEW MEXICO 309 82
COLORADO 59,951 29,993 |NEW YORK 1,190 765
FLORIDA 40,216 68,347  |NORTH CAROLINA 455 1,874
GEORGIA 7,166 9,109 OHIO 5,681 4,749
HAWAIT 1,030 17,750 |OREGON 964 2,835
ILLINOIS 1,120 2,164 |PENNSYLVANIA 512 45
INDIANA 700 2,259 |SOUTH CAROLINA 2,885 7,658
IOWA 78 140 | TENNESSEE 57 132
KENTUCKY 3,813 15,376 | TEXAS 12,6214 8,975
MAINE 17,965 2,983 | VERMONT 8,183 2,154
MARYLAND. 287 2,939 |VIRGINIA 2,910 15,413
MICHIGAN 1,689 1,594 |WASHINGTON 648 1,834
MINNESOTA 53,760 3,520 |WISCONSIN 970 1,483
MISSISSIPPI 10,042 8,449 | WYOMING 10,737 1,140
TOTAL 287,763 318,408
i/ VALUE IS PURCHASE PRICE bn NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 19--U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE OF FOREIGN OWNER,

UANUARY 1 - DECEMBER 31,. 1988
| (NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE
REPORTING | REPORTED INTERESTS EQUIVALENT 2/
| REPORTED 4/
INDIVIDUAL sd 56 12,705 1 12,676
CORPORATION 124 193 216,885 9 213,599
PARTNERSHIP 26 29 56,574 2 56,413
TRUST 8 8 1,488 ° 1,488
OTHER 1 1 414 °O Vit
TOTAL 209 287 287,763 12 284,287

ARE THOSE PARCELS WHICH ARE OWNED

4/ PARCELS WITH PARTIAL INTERESTS
THAT IS, A PERCENTAGE INTEREST LESS

ONLY IN PART BY THE FOREIGN INVESTOR;
THAN 100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.

26


Rental agreements were reported for only 1 percent of the parcels covering less
than 1 percent of the acres acquired during this period. No responses on rental
agreements were received for 73 percent of the parcels covering 84 percent of the
acres.

Tenure Change

Reports for 43 percent of the parcels acquired during the period indicate no
tenure change for 41 percent of the acreage (table 32). Reports for 25 percent
of the parcels, containing 16 percent of the acres, indicated a tenure change.
Because the number of acres affected by new tenure arrangements was not reported,
the acreage may be overstated; that is, all of these acres are not necessarily
affected by new tenure arrangements. No responses on tenure change were made for
31 percent of the parcels accounting for 43 percent of the acres.

Dispositions, Land-Use Ghanges, and Changes in Status

Data in this section are derived from reports filed by foreign investors who dis-
posed of 485 parcels of U.S. agricultural land covering 577,373 acres between
January 1 and December 31, 1988. In addition to these dispositions, there were
reports of land-use changes out of agriculture affecting 3 parcels covering 195
acres and reports of change in status from foreign to nonforeign affecting 20
parcels covering 9,644 acres.

For the same reasons noted at the outset of the acquisitions discussion, the
reported data for dispositions, land-use changes, and changes in status should be
regarded as preliminary. Reports that were not timely filed and/or completed or
statutorily were not required to be filed by the closing date for this report are
not included.

TABLE 32--TENURE OF FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS,
JANUARY 1 - DECEMBER 31, 1988

PARCELS ACRES VALUE
TENURE REPORTED (NUMBER ) (4,000
(NUMBER) DOLLARS) 1/
CURRENT:
FOREIGN OWNER 14 46,594 70,718
MANAGER 17 30,951 78,778
TENANT 91 67,901 71,026
NO REPORT 105 142,317 97,886
TOTAL 287 287,763 318,408
RENTAL:
CROP 1 40 10
CASH 3 256 1,532
NO REPORT 209 240,873 246,148
NOT APPLICABLE 74 46,594 70,718
TOTAL 287 287,763 318,408
INTENDED CHANGE:
NONE 123 116,724 163,868
NEW 72 46,691 74,710
BOTH 2 757 1,783
NO REPORT 30 123,591 78,047
TOTAL 287 287,763 318,408

4/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

35


with 9 percent. They are followed by foreign persons from the Netherlands, U.S./
Luxembourg corporations, and foreign persons from West Germany and the U.K. who
own 173,778 acres, or 30 percent.

Based on reports by foreign owners who reported owning only forest land or forest
land and other nonagricultural land, these reports account for 45 percent of all
the foreign-owned U.S. agricultural land (tables 1 and 12). The remaining 55
percent is primarily farmland, although it includes some forest and/or other non-
agricultural land commonly reported as part of the farmland holding (table 11).

The average parcel size for parcels with forest land or forest land and other
nonagricultural land is -2,698 acres (table 12). Except for Maine (with 32 per-
cent of the acreage, the uniqueness of which has been noted previously), the
forest or forest and other nonagriculture acres are concentrated in the South and
West. Alabama, Georgia, Louisiana, Mississippi, and South Carolina account for
26 percent. California, Oregon, and Washington account for another 21 percent of
the acres reported. There are also notable holdings in Michigan, Minnesota, and
New York, accounting for another 13 percent of the acres.

U.S./U.K. corporations own 38 percent of the foreign-owned U.S. forest land or
forest and other nonagricultural lands (table 13). Foreign persons from Canada
and U.S./France corporations own an additional 27 and 16 percent, respectively.

Individuals make up the largest number of owners reporting holdings of forest
land or forest and other nonagricultural land but account for only 17 percent of
the parcels and less than 2 percent of the acres (table 14). Corporations re-
ported holding 54 percent of the parcels, representing 92 percent of the acreage.
The remaining 29 percent of the parcels and 6 percent of the acres are held by
partnerships, trusts, estates, and others. When partial interests are taken into
account, the acreage equivalent is 478,798 acres less than the acres for which
reports were filed.

TABLE 12--U.S. FOREST AND OTHER NONAGRICULTURAL
LANDHOLDINGS OF FOREIGN OWNERS BY STATE,
DECEMBER 31, 1988

(NUMBER )
STATE STATE
AND U.S. PARCELS ACRES AND U.S. PARCELS ACRES
TERRITORY TERRITORY

ALABAMA 327 252,785 |MISSOURI 8 2,793
ARIZONA 1 13] MONTANA 8 262
ARKANSAS 14 4,146|NEW HAMPSHIRE 20 80,845
CALIFORNIA 12 232,476|NEW JERSEY 2 262
COLORADO 5 3,143/NEW YORK 90 287,017
CONNECTICUT 2 84|NORTH CAROLINA 136 65,435
FLORIDA 45 42,109|NORTH DAKOTA 1 272
GEORGIA 316 318,081|OHIO 18 1,118
HAWAIT 1 84 | OKLAHOMA 4 12
IDAHO 4 186] OREGON 47 623,383
ILLINOIS 5 2,984 | PENNSYLVANIA 18 53,578
KANSAS 1 11]SOUTH CAROLINA 397 130,304
KENTUCKY 1 28,983] TENNESSEE 34 35,867
LOUISIANA 25 496,4714|TEXAS 17 10,379
MAINE 84 1,784,519] VERMONT 127 70,882
MARYLAND 4 364] VIRGINIA 48 15,551
MASSACHUSETTS. 3 1,213] WASHINGTON 103 308 ,007
MICHIGAN 27 181, 158|WEST VIRGINIA 25 62,927
MINNESOTA 54 255 ,620|WISCONSIN 10 1,595
MISSISSIPPI 48 300,981

TOTAL 2,096 5,655,900

21


TABLE 1--U.S. AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS BY STATE, DECEMBER 31, 1988

TOTAL LAND PRIVATELY OWNED FOREIGN-OWNED | PROPORTION OF
AREA AGRICULTURAL AGRICULTURAL FOREIGN-OWNED TO
STATE OF STATE 4/ LAND 2/ LAND PRIVATELY OWNED
(4,000 ACRES) (41,000 ACRES) (ACRES) AGRICULTURAL LAND
(PERCENT)
ALABAMA 32,491 29,467 279,084 0.9
ALASKA 365,333 400 416 a1
ARIZONA 72,645 10,983 270,285 2.5
ARKANSAS 33,330 28,834 171,570 6
CALIFORNIA 100,031 . 47,353 922,889 1.9
COLORADO 66,301 37,527 531,939 1.4
CONNECTICUT 3,118 2,267 1,120 NEG.
DELAWARE 1,237 1,064 5,364 5
FLORIDA 34,658 26,529 519,236 2.0
GEORGIA 37,156 33,253 578,395 1.7
GUAM 135 85 336 4
HAWAIT 4,112. 1,992 53,895 2.7
IDAHO 52,744 15,166 18,856 at
ILLINOIS 35,613 32,326 116,463 Ge
INDIANA 22,996 20,909 43,965 +2
IOWA . 35,818 33,912 31,662 af
KANSAS 52,338 49,911 59,961 at
KENTUCKY 25,388 22,915 78,564 3
LOUISIANA 28,494 26,463 659,400 2.5
MAINE 19,837 18,829 1,799,794 9.6
MARYLAND 6,296 5,146 50,926 1.0
MASSACHUSETTS 5,008 3,322 1,703 NEG.
MICHIGAN 36,451 26,117 200,595 8
MINNESOTA 50,914 36,204 296,076 8
MISSISSIPPI 30,229 26,629 437,693 1.6
MISSOURI 44,125 40,025 59,173 a
MONTANA 93,048 54,189 444,476 8
NEBRASKA 43,052. 45,397 70,552 2
NEVADA 70,332 7,586 155,507 2.0
NEW HAMPSHIRE 5,756 4,682 84,517 1.8
NEW JERSEY 4,779 2,894 26,642 9
NEW MEXICO 17,654. 34,451 557,115 1.6
NEW YORK 30,321 24,257 348,589 1.4
NORTH CAROLINA 31,260 27,321 262,828 1.0
NORTH DAKOTA 44,352 39,617 28,846 at
OHIO 26,243 22,979 161,017 7
OKLAHOMA 43,939 38,875 31,148 ral
OREGON 61,558 25,685 804,523 3.4
PENNSYLVANIA 28,728 22,380 74,122 3
PUERTO RICO NA NA 1,448 NEG.
RHODE ISLAND 675 439 ° °
SOUTH CAROLINA 19,330 15,932 212,695 1.3
SOUTH DAKOTA 48,609 38,244 42,901 at
TENNESSEE 26,339 22,901 73,211 3
TEXAS 167,691 156,768 1,029,885 0.7
UTAH 52,527 10,779 61,710 6
VERMONT 5,935 5,251 110,966 2.4
VIRGINIA 25,410 21,499 116,414 5
WASHINGTON 42,567 23,028 402,204 1.7
WEST VIRGINIA 15,436 13,744 74,183 38
WISCONSIN 34,833 27.637 21,047 at
WYOMING 62,073 26,142 99,135 4
TOTAL 2,265,242 1,290,302 12,484,738 1.0

4/1980 LAND AREA FROM GEOGRAPHY DIVISION, CENSUS BUREAU.

2/ PRIVATELY HELD LAND BASED ON T. FREY, UNPUBLISHED DATA, ECON. RES. SERV., U.S.
DEPT.AGR., 1979. ESTIMATE OF TOTAL LAND LESS PUBLIC, INDIAN, TRANSPORTATION, AND
URBAN LANDS. INCLUDES FOREST LAND, PASTURELAND, CROPLAND, RANGE, AND MISCELLANEOUS

NEG. = NEGLIGIBLE
IA = NOT AVAILABLE


APPENDIX: REPORT FORM ASCS-153

For roved - OMB No, 0560-1
‘ASCS-153 U.5, DEPARTMENT OF AGRICULTURE |. TYPE ACTIVITY (See Reverse) (Check one)
(03-28-84) Asricultural Stabilization and Conservation Service CO Bhar ton Co] © ban oO
AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE ACT REPORT Holding Acquisition Olsposition

QTE: Read Instructions on Reverse Before Filling in Any Date Below. If Additional Space] D.Land Use Change [—) _E. Land Use Change To []

is Needed, Use Reverse, ‘To Agricuiture Non-Agriculture
ITEM [orrice TEM
2. Tract Location and Description ONLY . |" 5, Type of Interest Held in the Agricultural Land (Gheck One) | cHEcK
‘A, LEGAL DESCRIPTION OR ASCE TRACT NUMBER ‘A. Fee Interest (ownership) Whole
B. Fee Interest (ownership) Partial WiCenr *
C. Life Estate
D. Trust Beneficiary
B, COUNTY OR PARISH li _NO. OF ACR! E. Purchase Contract
naa F. Other (explain)

3. Owner of Tract (in item 2A) (See Reverse)

AL NAME 6, How was this Tract Acquired or Transferred? CHECK
‘A. Cash Transaction
B, 10 NO. (Nine digits) Ts CHECK IF NO. B. Credit or Installment Transaction
NOT KNOWN © Trade

CLEGAL ADDRESS (Street, City, State/Province, Country)
D. Gift or Inheritance

E, Foreclosure
F. Other (explain)

D. Type of Owner (Check one) CHECK
1, Individual (including husband wife)
Citizenship of Individual T 7. Value of Agricultural Land
T A. Purchase Price of Land or if a land dispo- |
2. Government (name of country) tition, the original price paid by eeller $
3, Organization B, NonPurchase, Estimated Value at the |
& TYPE poration ‘Time of Acquisition $
2) Partnership ©. What is the estimated current value or if a ]
3) Estate lind us iapostion, the selling price of the "|
ct of
4) Trust , How much of purchase price in Item 7A |
3) Institution remains to be paid? $
6) Association 8. Date of Acquisition or [ron Py re
72) Other Transfer (See Reverse)
b, Gov't. or country under whose 8. Current Land Use (Usual use of land. For idle land, ACRES
lew the organization is sete report as other Agriculture.) Report in Whole Numbers|
c. Principal place of business (for
organizations only) A. Crop
Liston separate sheet, the Name, Address and Country of all B. Pasture
foreign persons who indi ‘or in the aggregate hold significant 7
rete or eabstental contol tr the neeeeregate old sien C. Forest or Timber
‘oniy # Ram 76 Land Blanes hocked D. Other Agriculture
NAME OF PERSON RECEIVING TRACT E._Non-Agriculture
F._Totel (Should equal 2C)
2 ADDRESS (Street, City, State/Province, Country) 10. Intended Use as of This Date (Check Onel CHECK
‘A._No Change
B._ Other Agriculture
S-erriZENSHIP =
usa [(_]_Foreien[_] unknown [_] G_Non-Agrienlture_—
ras ‘ative of Foreign Pi r Teting form, If spplicable} 11. Relationship of Foreign Owner to Producer (/f applicable) CHECK
ae cero Rompleting form. A. Producer is:
1. Foreign owner
B ADDRESS (Street, State, Country) 2. Manager

3,_Tenant or sharecropper
B. Rental agreement is:

C. TELEPHONE NO. (Area Code) 1. A crop share
D_ Relationship of Representative to Foreign Person CHECK
zoe ms 2, Cash or fixed rent
1, Attorney
2, Manager 12. The Producer on This Tract is: CHECK
3. Agent ‘A The same person as when the tract was acquired
4. Other (Explain on Reverse) B. Anew person

13. CERTIFICATION - I certify that the information entered in this report is complete and correct, | understand that falsification of reporti
to « civil penalty not to exceed 25% of the fair market value of the interest held in the tract of land.

‘14, SIGNATURE (Owner or legally authorized representative) 7 [rere DATE

is subject

FOREIGN PERSON COPY

43


Size of Holding. Holdings are concentrated with smaller acreage held by indi-
viduals and larger acreage held by corporations (tables 2 and 3). Owners of
parcels of less than 300 actes (65 percent of all of the foreign owners) hold
only slightly more than 3 percent of the land and owners of parcels with 300
acres or more (the remaining 35 percent) hold more than 96 percent of the land
(table 4). Part of this concentration may be explained by the definition of
agricultural land, which includes extensive uses of land such as ranching and

TABLE 3--FOREIGN OWNERS OF U.S. AGRICULTURAL LANDHOLDINGS
BY STATE, DECEMBER 31, 1988
(NUMBER )
STATE INDIVIDUAL ORGANIZATION
AND U.S.
TERRITORY
PARCELS, ACRES PARCELS ACRES

ALABAMA 24 TAS 378 278,369
ALASKA ° ° 2 416
ARIZONA 32 11,923 192 258,362
ARKANSAS 73 34,786 4105 136,784
CALIFORNIA 239 79,410 41,017 843,479
COLORADO 137 127,171 224 404,768
CONNECTICUT 6 308 14 B12
DELAWARE 5 1,250 10 4,114
FLORIDA 422 29,486 778 489,750
GEORGIA 164 60,342 631 518,053
GUAM ° ° 2 336
HAWAII 15 548 35 53,347
IDAHO 17 6,693 27 12,163
ILLINOIS 50 11,296 283 4105, 167
INDIANA 33 5,420 144 38,545
IOWA 64 15,073 63 16,589
KANSAS 25 8,334 73 51,627
KENTUCKY 37 6,816 128 71,748
LOUISIANA 14 8,459 126 650,941
MAINE 30 18,884 73 1,780,910
MARYLAND 52 9,937 137 40,989
MASSACHUSETTS, 2 252 5 4,454
MICHIGAN 60 5,841 66 194,754
MINNESOTA 35 17,052 144 279,024
MISSISSIPPI 7 993 217 436,700
MISSOURI 32 9,201 96 49,972
MONTANA 66 38,027 96 406,449
NEBRASKA 9 2,703 29 67,849
NEVADA 3 94 16 155,413
NEW HAMPSHIRE 9 1,543 22 82,974
NEW JERSEY 12 1,292 86 25,350
NEW MEXICO 20 3,738 65 553,377
NEW YORK 306 48,844 169 299,745
NORTH CAROLINA 44 8,122 289 254,706
NORTH DAKOTA 40 11,298 25 17,548
OHIO 44 9,637 370 151,380
OKLAHOMA 8 41,032 58 30,116
OREGON 38 19,426 83 785,097
PENNSYLVANIA 28 2,450 75 71,672
PUERTO RICO 5 634 6 B14
SOUTH CAROLINA 35 9,181 484 203,514
SOUTH DAKOTA 39 11,444 38 31,457
TENNESSEE Es 19,077 cal 54,134
TEXAS 612 167,026 1,018 862,859
UTAH 515 21,469 25 40,244
VERMONT 445 30,879 189 80,087
VIRGINIA 123 24,455 244 91,656
WASHINGTON 229 19,473 395 382,731
WEST VIRGINIA 14 1,292 34 72,891
WISCONSIN 72 12,067 36 8,980
WYOMING 3 660 20 98,475

TOTAL 4,369 936,053 8,846 11,548,685

8