News

Report: food and agriculture contribute $7 trillion a year to the economy

The U.S. food and agriculture sector contributes $7 trillion dollars a year to the nation’s economy, according to a new report. 

Michael Anderson, with the Corn Refiners Association, says the Feeding the Economy report, commissioned by 33 food and ag groups, highlights the critical role the industry plays in feeding Americans and fueling the economy.

“This sector is responsible for one fifth of the country’s economic activity and this sector supports more than 40 million jobs in the U.S., about 13 percent of U.S. employment,” he says. “The food and agriculture industry supported more than $2 trillion in wages last year and paid $797 billion in taxes. Also, the industry exported nearly $156 billion worth of food and ag products last year. All of these results show the interconnectedness of the farm economy and how it supports good paying jobs across the country in the different steps of the food supply chain whether it’s production, processing, distribution, manufacturing, or retail.”

He tells Brownfield the report is essential for policymakers considering legislation that could impact food and agriculture.

“A policy that impacts a ranch or a farm or a particular crop, also impacts the supply chain,” he says. “So, it’s critical that a policymaker understands these connections and understands the true definition of the farm, food and agriculture supply chain, and overall farm economy.”  

National data as well as state and district data is available at feedingtheeconomy.com.  

Sponsoring Organizations include: American Bakers Association, American Beverage Association, American Farm Bureau Federation, American Feed Industry Association, American Frozen Food Institute, American Soybean Association, Association of Equipment Manufacturers, Beer Institute, Biotechnology Innovation Organization, Consumer Brands Association, Corn Refiners Association, CropLife America, Distilled Spirits Council of the United States, The Fertilizer Institute, FMI – The Food Industry Association, Global Cold Chain Alliance , Institute of Shortening and Edible Oils, International Dairy Foods Association, National Association of State Departments of Agriculture, National Automatic Merchandising Association, National Chicken Council , National Confectioners Association, National Grain and Feed Association, National Grocers Association, National Milk Producers Federation, National Oilseed Processors Association, National Pork Producers Council, National Restaurant Association, North American Meat Institute, North American Millers’ Association, SNAC International, The Sugar Association Inc., U.S. Grains Council, United Fresh Produce Association, and USA Rice.

Audio: Michael Anderson