Report Shows Agriculture Has An Economic Impact of Nearly $7 Trillion

Jim Rogers Agri-Business, Radio Reports

According to a recent report, the U.S. agriculture industry has an overall economic impact of nearly $7 trillion. The 2021 Food and Agriculture Industries Economic Impact Study was commissioned by 33 food and ag organizations. John Dunham & Associates conducted the research, which was funded by The Goodstone Group. The report quantifies the impact of the jobs, wages, taxes, and exports the industry makes possible.

The economic impact study shows that one-fifth of the nation’s economy and one-quarter of American jobs are linked to the food and agriculture sectors in some fashion. The findings show ag being responsible for nearly 41 million jobs providing wages of more than $2 trillion. the ag sector and other related industries paid nearly $798 billion in federal, state and local taxes. The food and ag industry also generates more than $155 billion in export activity.

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Report Shows Agriculture Has An Economic Impact of Nearly $7 Trillion
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Brian German

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Multimedia Journalist for AgNet West