State-Led Land Acquisition and Farmland Prices

Binayak Kunwar, Chad Fiechter, Aaron Shew and Guy Tchuente

No 404339, 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri from Agricultural and Applied Economics Association

Abstract: This paper examines how state-led land acquisitions for industrial development affect farmland markets, focusing on the Indiana Economic Development Corporation’s (IEDC) purchase of farmland for the LEAP Innovation and Research District in Boone County, Indiana. Using transaction-level data from 2016–2024 and difference in- differences and event-study designs, we estimate both localized and spillover price effects. Farmland prices in Boone County increased by 40–58 percent, while neighboring counties experienced spillovers of about 7 percent. Local effects persist, whereas spillovers emerge with a lag and gradually dissipate. These results have implications for land-use planning, agricultural expansion, and rural equity.

Keywords: Agricultural Finance; Farm Management (search for similar items in EconPapers)
Pages: 27
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea26:404339

DOI: 10.22004/ag.econ.404339

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