News

Equipment manufacturers make $160 B GDP contribution

An Association of Equipment Manufacturers report says equipment makers supported about 1.3 million jobs and contributed almost $160 billion to the U.S. Gross Domestic Product in 2016.  A segment of that is farm equipment.

The report indicates that U.S. farm policy has a greater effect than might be thought, according to Nick Tindall, government relations director at AEM.

“People have this concept that things like the farm bill only matter to farmers,” Tindall told Brownfield Ag News, “but as this study reveals, it matters to people on factor floors who might not even know a farmer let alone have ever worked on a farm themselves.”

The report also indicates that equipment manufacturers generated over $25 billion in local, state and federal tax revenue in the U.S. in 2016.

According to the report, Illinois, Wisconsin, Ohio and Texas are the top four states in equipment manufacturing.

AUDIO: Nick Tindall (4 min. MP3)