AbstractThe maize–soybean rotation (MSR) dominates the Midwest United States and degrades many ecological functions. Black walnut (Juglans nigraL.) plantation forestry (PF) and alley cropping (AC) are two alternative land‐uses that can enhance productivity and restore ecosystem services. Given the lack of robust market mechanisms to monetize ecosystems services, we tested whether the profitability ofPFandACcould drive adoption in the Midwest. Publically available data on black walnut soil suitability, timber prices, crop productivity, and cash rents were combined in a high‐resolution spatial analysis to identify regions where these alternatives can outcompeteMSR. To avoid selecting an arbitrary discount rate at which to make comparisons, we determined the threshold discount rate necessary to makePForACeconomically competitive withMSR. We show that, with a 5% discount rate,PFandACcould be more profitable on 17.0% and 23.4% ofMSRland, respectively. Contrary to the common assumption that woody agricultural alternatives should first be adopted in marginal row crop areas, the economic competitiveness ofPFandACwas not correlated withMSRproductivity. Instead, black walnut growth rate was the central driver ofPFandACcompetitiveness, underscoring a necessary shift away from the currentMSR‐centric perspective in defining target regions for land‐use alternatives. Results reveal major opportunities for landowners and investors to increase profitability by investing inPFandACon both “marginal” and productiveMSRland.