Agriculture and Food Drive Significant Portion of American Economy

(WASHINGTON, DC) The impact of the agricultural sector on the general economy is forecast at twenty percent according to research released this week. The nationwide economic impact study found that more than one-fourth of all American jobs are connected, either directly or indirectly to the food and ag industry. This research was commissioned by a group of 23 food and agriculture organizations and found that 45.5 million total jobs are tied to the industry. In addition, agriculture supports more than $2 trillion in wages, pays $913 billion in taxes and exports $154 billion annually. To measure the total economic impact of the sectors, the analysis also includes the indirect and induced economic activity surrounding these industries, which captures upstream and downstream activity. For example, when a farm equipment retailer hires new employees because farmers are buying more tractors, experts consider the new salaries as an indirect impact. Similarly, when a retail associate spends her paycheck, an induced economic impact occurs. Together, these impacts have a multiplier effect on the already formidable direct impact of food and agriculture. The full report is available at www.FeedingTheEconomy.com