In the latest “Feeding the Economy” report that has just been released by more than 30 ag groups, 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 2024 report also revealed the following stats for Indiana’s ag and food sectors:
- Total Jobs: 968,577
- Total Wages: $53.69 billion
- Total Taxes: $22.61 billion
- Exports: $2.90 billion
Across the entire United States, the 2024 report’s findings show that the total economic impact for the food and agriculture-related industries grew 11.8% over the last year, reaching $9.63 trillion. This represents 20.01% of total U.S. output. The study also drills down to highlight the impact of this sector to include:
- Total Jobs: 48,665,870 (up 19.53% since the 2020 report)
- Total Wages: $2.77 trillion (up 33.82% since the 2020 report)
- Total Taxes: $1.25 trillion (up 36.91% since the 2020 report)
- Exports: $181.36 billion (down 2.70% since the 2020 report)
There were almost the same number of jobs in agriculture (2.49 million) and manufacturing agricultural products (2.46 million). The number of direct jobs in food and agriculture was up almost 800,000 since the 2020 report (up 20%).
From the 2020 Feeding the Economy report to now, food and agriculture manufacturing jobs grew at a faster rate than any other job category. As a result, manufacturing of agricultural production now accounts for almost 20% of America’s manufacturing jobs, over twice as many as automobile manufacturing. The report shows the significant role that the food and agriculture sectors play in supporting the U.S. economy and helps the public and policymakers better understand how these industries continue to promote those contributions.
Among the sponsors of this year’s “Feeding the Economy” report include: American Soybean Association, National Association of State Departments of Agriculture, National Corn Growers Association, National Milk Producers Federation, National Pork Producers Council, U.S. Dairy Export Council, U.S. Grains Council, and United Soybean Board.
Click HERE to read the 2024 “Feeding the Economy” report for Indiana.
