Agriculture is Michigan’s second-largest industry and plays a vital role in our economy, generating $91.4 billion annually. There are 56,014 farms in Michigan, spread over about 10 million acres; the average size is about 180 acres. Farming is unique in that it’s both a business and a way of life. Did you know that 95 percent of Michigan farms are family owned? Of the few that are corporations, 99 percent are family-owned and involve multiple generations.