This paper reflects the demand for taking account of the territorial dimension in the application of Common Agricultural Policy (CAP) more comprehensively. While this has been addressed in rural development discourse to a wide extent over the last two decades and consensus for regionalized strategies is emerging, programme evaluation is in general still limited to the analysis of policy interventions at the national level. This implies that conclusions on the territorial effects of CAP are largely missing. Therefore the intention of this paper is to provide a regional analysis of CAP expenditures for pillar 1 and pillar 2, and to demonstrate and assess their actual territorial impacts, represented on the basis of the NUTS 3 region ‘Obersteiermark West’: The territorial analysis presented is an example to reduce this gap (national vs territorial) in the evaluation of CAP.