NAICS 113110 Quarterly Industry Report
Timber Tract Operations
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 113110Sector: Agriculture, Forestry, Fishing and Hunting (11)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 113110 provides valuation-focused intelligence for professionals assessing timber tract operations and timberland investments. Additional data is drawn from Bureau of Labor Statistics[7], U.S. Census Bureau[8].. Data is sourced from USDA Forest Service[5] timber inventory assessments, USDA NASS[6] agricultural statistics, and SBA size standards[9] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for timberland enterprises.
Industry Definition & Overview
Timber Tract Operations (NAICS 113110) encompasses establishments primarily engaged in the operation of timber tracts for the purpose of selling standing timber. These operations manage forested land holdings and generate revenue through the sale of timber stumpage rights to logging contractors and wood products manufacturers. The U.S. Census Bureau[4] distinguishes timber tract operations from logging activities (NAICS 113310) and real estate leasing of timberland (NAICS 531190), as this classification focuses specifically on growing and selling standing timber as a crop rather than harvesting or land rental income.
The U.S. timber industry benefits from strong domestic demand driven by residential construction, commercial building, and wood products manufacturing. Timber tract operators across the Southeast, Pacific Northwest, and Northern Lake States manage diverse species portfolios including southern yellow pine, Douglas fir, and hardwood stands. The USDA Forest Service[5] Forest Inventory and Analysis program tracks national timber inventory, growth, and removals data that inform stumpage pricing and timberland investment analysis. Institutional investors including timber real estate investment trusts (REITs) and pension funds have expanded participation in this asset class due to favorable long-term return characteristics and portfolio diversification benefits.
Business valuations for timber tract operations require specialized forestry appraisal methods that account for standing timber inventory by species, age class, and product grade. Appraisers evaluate biological growth rates, harvest scheduling flexibility, stumpage price trends reported by state forestry agencies, land productivity measured through site index ratings, and access infrastructure quality. The USDA National Agricultural Statistics Service[6] and state-level timber price reporting services provide market data used in both income capitalization and comparable sales approaches to timberland valuation.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for timber tract operations and timberland investments
- Revenue and profitability analysis covering stumpage sales, timber lease income, and standing inventory appreciation
- SBA size standard classification and lending threshold data for NAICS 113110
- Comparable transaction data from recent timberland acquisitions, timber tract sales, and forestland transfers
- Regional market analysis covering southern pine, Pacific Northwest softwood, and northern hardwood timber markets
- Workforce and operating cost benchmarking for timber tract management, forestry consulting, and site preparation staff
- Industry risk assessment including timber price volatility, wildfire exposure, disease and pest threats, and regulatory constraints
- Regulatory compliance overview covering state forestry practice acts, endangered species requirements, and water quality protections
- Capital expenditure profiles for road construction, site preparation, reforestation planting, and timber stand improvement
- Production metrics including annual growth rates, harvest volumes, stumpage prices by species, and timberland productivity benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Agriculture, Forestry, Fishing and Hunting | 11 |
| Subsector | Forestry and Logging | 113 |
| Industry Group | Timber Tract Operations | 1131 |
| NAICS Industry | Timber Tract Operations | 11311 |
| National Industry | Timber Tract Operations | 113110 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 113310 | Logging | Logging establishments that purchase stumpage rights from timber tract operators and perform cutting and transportation of harvested timber products |
| 321113 | Sawmills | Sawmill operations that purchase standing timber or delivered logs from timber tract owners for processing into dimensional lumber and structural products |
| 115310 | Support Activities for Forestry | Forestry support service providers offering timber cruising, reforestation planting, fire prevention, and forest management consulting to timberland owners |
| 531190 | Lessors of Other Real Estate Property | Real estate lessors who lease timberland properties where the primary business model involves land rental income rather than standing timber sales |
| 111421 | Nursery and Tree Production | Nursery and tree production operations that grow seedlings and transplant stock used by timber tract operators for reforestation planting programs |
| 541620 | Environmental Consulting Services | Environmental consulting firms providing timber tract operators with wetland delineation, endangered species surveys, and environmental compliance assessments for harvest planning |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Alabama | 11.2% | 52 |
| 2 | Georgia | 10.8% | 50 |
| 3 | South Carolina | 8.6% | 40 |
| 4 | Mississippi | 7.3% | 34 |
| 5 | Louisiana | 7.1% | 33 |
| 6 | Florida | 7.1% | 33 |
| 7 | Virginia | 5.4% | 25 |
| 8 | Pennsylvania | 5.4% | 25 |
| 9 | Oregon | 4.5% | 21 |
| 10 | Texas | 4.1% | 19 |
% Of Establishments
0%
11%
Source: County Business Patterns, U.S. Census Bureau[2]
SBA Lending Summary
8
Total SBA Loans
$2.0M
Total Loan Volume
$250K
Average Loan Size
10 yrs
Average Loan Term
9.50%
Average Interest Rate
0
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[3]
Key Insight: The SBA[10] classifies Timber Tract Operations (NAICS 113110) with a size standard of $19.0 million in average annual receipts. Most timber tract operations are privately held enterprises that qualify for SBA-backed lending[11], government contracting preferences, and USDA forestry assistance programs including cost-share reforestation incentives and conservation stewardship payments available through the USDA Farm Service Agency[12]. Eligible businesses can access SBA 7(a) loans[13] for working capital, equipment, and acquisition financing, while 504 loans[14] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Comerica Bank | 8 | $2.0M | $250K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for timber tract operations?
Timber Tract Operations is classified under NAICS code 113110, covering establishments primarily engaged in operating timber tracts for the purpose of selling standing timber per the U.S. Census Bureau[4] industry classification system.
What is the SBA size standard for timber tract operations?
The SBA[10] sets the size standard for NAICS 113110 at $19.0 million in average annual receipts, qualifying eligible timber tract operations for small business lending programs and government contracting preferences.
How are timber tracts different from logging operations?
Timber tract operations (NAICS 113110) focus on managing forested land and selling standing timber, while logging operations (NAICS 113310) perform the physical cutting and transportation of timber per the U.S. Census Bureau[4] NAICS definitions.
What factors drive timberland valuations?
Key valuation drivers include standing timber inventory volume and species composition, site productivity index ratings, stumpage price trends, harvest scheduling flexibility, road access quality, and proximity to mill markets per USDA Forest Service[5] timberland assessment data.
What regions have the highest timberland values?
The U.S. Southeast (particularly Georgia, Alabama, and the Carolinas), Pacific Northwest (Oregon and Washington), and Northern Lake States represent primary timberland investment regions tracked by the USDA Forest Service[5] Forest Inventory and Analysis program.
How do timber tract operators generate revenue?
Primary revenue streams include stumpage sales to logging contractors, timber lease payments, hunting and recreation lease income, and standing inventory appreciation as timber grows in volume and value over time.
What risks affect timber tract investments?
Major risks include stumpage price volatility tied to housing construction cycles, wildfire and natural disaster exposure, insect and disease threats, regulatory restrictions on harvesting near waterways and endangered species habitat, and long biological growth cycles requiring patient capital.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, County Business Patterns census.gov
- [3]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [4]U.S. Census Bureau census.gov
- [5]USDA Forest Service fs.usda.gov
- [6]USDA National Agricultural Statistics Service nass.usda.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]U.S. Census Bureau census.gov
- [9]SBA size standards sba.gov
- [10]SBA sba.gov
- [11]SBA-backed lending sba.gov
- [12]USDA Farm Service Agency fsa.usda.gov
- [13]SBA 7(a) loans sba.gov
- [14]504 loans sba.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.