Atlanta Fed Grassroots Transcript

Marsha Folsom
Agriculture Advisory Council
Leslie McClure, Regional Executive
Birmingham Branch of the Federal Reserve Bank of Atlanta

 

Marsha Folsom (voiceover): I'm Marsha Folsom, and I'm chief development officer for Resource Fiber. I sit on the Agriculture Advisory Council for the Atlanta Fed.

The agriculture industry means a great deal to Alabama's economy. It generates approximately $70 billion every year in the state.

Resource Fiber is a company that's bringing bamboo manufacturing and cultivation to the United States. The bamboo nursery has over 17 thousand plants, and those 17 thousand plants will multiply into 17 million plants into the next 10 to 15 years.

Folsom (to Lesley McClure, vice president and regional executive, Birmingham Branch): What we do is we take the small plants and plant them here. These plants have been in the ground for two years.

Folsom (voiceover): It's very important, being a new business, that we are able to network with people who are in the agricultural industry already. And by being on the agricultural council, I have an opportunity to learn from others.

McClure: Is this a crop that a small farmer could be able to grow and support a family?

Folsom (to McClure): Well, with an annual harvest...

Folsom (voiceover): It's a unique opportunity to be able to share what's going on in the grassroots level and to have the Fed listen to us and to actually craft policy based on a lot of the things that they're hearing is a very important opportunity for each one of us who sit on that council.

Folsom (to McClure): The population is getting smaller in this county...

Folsom (voiceover): Knowing that the information that we share is used, in a very positive sense, to assist the Fed in crafting monetary policy is very important to me as a citizen of this country, and also as a businessperson.