1# RECORD 977446bbb49b4d764e634547886ae927f75e8e352# TITLE: Costs of Exposure to Industrial Livestock Operations3# YEAR: 2024.0 VENUE: Land Economics DOI: 10.3368/le.101.1.011224-00034# AUTHORS: Kay Jowers; Yu Ma; Christopher Timmins5# PAGES: 37 CANDIDATE TABLE PAGES (1-based): [29]6# ABSTRACT: Abstract Concentrated animal feeding operations, particularly hog and poultry farms, have expanded rapidly in North Carolina in recent decades. The air pollution and water contamination they generate cause many environmental and health problems for local communities. Using the universe of farm characteristics and housing transaction data in North Carolina, we recover hedonic estimates of property value impacts from exposure to these industrial livestock operations. Our results show large and significant negative impacts on nearby home values, particularly when those properties depend on private wells.789===== PAGE 1 (score 6, numeric-paren 0, table-words 0, var-words 6) =====1011 12 13The Costs of Exposure to Industrial Livestock 14Operations 15Kay Jowers,† Yu Ma,‡ Christopher Timmins* 16 17Abstract 18Concentrated animal feeding operations, particularly hog and poultry farms, have 19expanded rapidly in North Carolina in recent decades. The air pollution and water 20contamination they generate cause many environmental and health problems for 21local communities. Using the universe of farm characteristic and housing 22transaction data in North Carolina, we recover hedonic estimates of property value 23impacts from exposure to these industrial livestock operations. Our results show 24large and significant negative impacts on nearby home values, particularly when 25those properties are dependent on private wells. 26 27Keywords: Concentrated Animal Feeding Operation; Hedonic Model 28JEL Codes: Q15, Q51 29 30 31 32 33 34†kay.jowers@duke.edu: Director for Just Environments, Nicholas Institute for Energy, 35Environment & Sustainability and Kenan Institute for Ethics, Duke University; ‡yu.ma@duke.edu: 36Postdoctoral Associate, Nicholas School of Environment, Duke University; *ctimmins@wisc.edu: 37Gary J. Gorman Affordable Housing Professor, Wisconsin School of Business, 4291 Grainger Hall, 38975 University Avenue, Madison, WI 53706 (Corresponding Author). 39doi:10.3368/le.101.1.011224-000340by guest on October 20, 2026. Copyright 202441Downloaded from 424344===== PAGE 29 (score 67, numeric-paren 45, table-words 2, var-words 10) =====4546 29 47Table 2: Summary Statistics 48 49 Private Well Community Water t-test (CWS – PW) 50 Houses Houses 51Housing and Environmental Attributes 52Housing Price 53147589.8 (75440) 54147936.3 (88530) 55346.44 (0.39) 56Square Footage 571713.40 (567.07) 581767.92 (620.47) 5954.51*** (8.25) 60Housing Age 6122.91 (21.64) 6227.37 (24.50) 634.46*** (17.55) 64# Bathrooms 652.20 (0.79) 662.27 (0.81) 670.07*** (7.30) 68# Bedrooms 692.81 (1.10) 702.82 (1.05) 710.01 (0.63) 72Acres 732.19 (6.77) 741.23 (4.83) 75-0.96*** (-13.10) 76Basement Sqft 774.19 (65.83) 786.92 (87.98) 792.73*** (3.37) 80Landfill 810.24 (0.67) 820.07 (0.42) 83-0.16*** (-22.98) 84RSEI 851630.85 (5744) 86695.98 (2979) 87-934.87*** (-15.47) 88Hogs Exposure 893km 900.35 (0.92) 910.16 (0.61) 92-0.20*** (-19.92) 934km 940.66 (1.53) 950.32 (1.01) 96-0.34*** (-20.52) 975km 981.03 (2.27) 990.56 (1.57) 100-0.47*** (-19.15) 101Poultry Exposure 1023km 1030.32 (0.80) 1040.20 (0.60) 105-0.13*** (-14.63) 1064km 1070.63 (1.26) 1080.39 (0.96) 109-0.24*** (-17.67) 1105km 1111.03 (1.84) 1120.67 (1.40) 113-0.36*** (-17.87) 114N 1159680 11636801 117 118First three columns: mean (std); last column: diff in mean (t-stat), *** p < 0.01, ** p < 0.05, * p 119< 0.1; landfill: # active landfill sites within 3km; RSEI: block group toxic chemicals; Exposure 120adjusted by large CAFO: 1 million SSLW, 100,000 total bird count; The summary statistics use 121same data as 5km hedonic specification, and we only keep houses with any hogs or poultry within 12210km. 123by guest on October 20, 2026. Copyright 2024124Downloaded from 125126127===== PAGE 30 (score 1, numeric-paren 0, table-words 0, var-words 1) =====128129 30 130Figures 131 132Figure 1 East NC CAFO Distribution 133 134 135 136(Fig 1a) Hog Farms Location 137 (Fig 1b) Poultry Farm Location 138Figure (a): Distribution of hogs (provided by NC Department of Environmental Quality); Figure 139(b): Distribution of poultry farms (provided by Environmental Working Group) in eastern NC; The 140area is decomposed into 1,855 block groups, where the darker areas are those with a higher 141percentage of people of color. 142 143 144 145 146 147 148 149 150 151 152 153by guest on October 20, 2026. Copyright 2024154Downloaded from 155