The United States has witnessed a notable rise in foreign ownership of agricultural land, with an increase of 1.58 million acres from 2022 to 2023. This growth is primarily attributed to the expansion of renewable energy projects across the country. According to recent data analyzed by the American Farm Bureau Federation (AFBF), foreign investors now hold 45.58 million acres of U.S. agricultural land, accounting for 3.61% of all privately held agricultural land. While Chinese ownership has decreased, Canadian investors lead in foreign-held land. The analysis also highlights the significant role of renewable energy investments, particularly wind and solar projects, in driving this trend.

In recent years, the surge in foreign investment in U.S. agricultural land has been driven by the growing interest in renewable energy development. Between 2018 and 2023, foreign investments in cropland have surged by 101%, while forestland saw a 28% increase. AFBF's Daniel Munch noted that over the past decade, foreign renewable energy investments have expanded by 353%, contributing nearly half of the total increase in foreign-owned agricultural land. Wind energy projects, in particular, account for the majority of these investments, with 84% of the acreage linked to wind energy entities. This shift underscores the increasing attractiveness of U.S. agricultural land for renewable energy ventures.

Canadian investors stand out as the largest foreign holders of U.S. agricultural land, owning 33.5% of the total foreign-held land. Investors from the Netherlands, Italy, the United Kingdom, and Germany follow with smaller but still significant shares. The types of land owned vary, with 21.9 million acres designated as forestland, 13.2 million acres as cropland, and 7.7 million acres as pastureland. Texas leads all states in terms of foreign-held agricultural land, with 5.7 million acres, followed by Maine, where foreign ownership constitutes over 21% of the state's agricultural land. Hawaii also shows a substantial presence of foreign-owned land, largely due to renewable energy investments.

From 2022 to 2023, 42 states experienced increases in foreign-owned agricultural land, with New Mexico, Texas, Arkansas, Oregon, and South Carolina leading the way. These increases are primarily tied to new or expanded wind energy projects and timber industry expansions. In contrast, Alabama recorded the largest decline in foreign-held land, driven by reduced holdings from foreign timber companies. Overall, the data reveals a complex interplay between renewable energy development and foreign investment in U.S. agricultural land, reflecting broader global trends in sustainable resource management.

The expansion of renewable energy projects has reshaped the landscape of foreign agricultural land ownership in the U.S., influencing both the quantity and type of land being acquired. As the demand for renewable energy continues to grow, it is likely that this trend will persist, potentially altering the dynamics of agricultural land ownership and use in the coming years. The data suggests that while some states are seeing significant increases, others are experiencing declines, highlighting the diverse impacts of these investments on local economies and ecosystems.