‘Feeding the Economy’ Report Reveals Indiana’s Ag and Food Industries Generate $219.75 Billion Economic Output – 95.3 MNC


‘Feeding the Economy’ Report Reveals Indiana’s Ag and Food Industries Generate $219.75 Billion Economic Output – 95.3 MNC

The latest “Feeding the Economy” report released by over 30 agricultural groups reveals that Indiana’s agriculture and food industries have a total economic output of $219.75 billion, with a direct economic impact of $87.96 billion. The report for 2024 also provides statistics on Indiana’s agriculture and food sectors, including total jobs (968,577), total wages ($53.69 billion), total taxes ($22.61 billion), and exports ($2.90 billion).

In the United States as a whole, the report shows that the total economic impact of food and agriculture-related industries grew by 11.8% over the past year, reaching $9.63 trillion. This represents 20.01% of the total U.S. output. The report also highlights total jobs (48,665,870), total wages ($2.77 trillion), total taxes ($1.25 trillion), and exports ($181.36 billion).

There were almost an equal number of jobs in agriculture (2.49 million) and manufacturing agricultural products (2.46 million). The number of direct jobs in the food and agriculture sector has increased by almost 800,000 since the 2020 report, a 20% increase. Manufacturing jobs in food and agriculture have shown significant growth, surpassing automobile manufacturing in terms of job numbers.

The “Feeding the Economy” report emphasizes the important role that the food and agriculture sectors play in supporting the U.S. economy. It aims to help the public and policymakers better understand the contributions of these industries. Sponsors of the report include the American Soybean Association, National Association of State Departments of Agriculture, National Corn Growers Association, and others.

To read the full 2024 “Feeding the Economy” report for Indiana, click HERE.

Leave a Reply