Home Indiana Agriculture News U.S. Meat Industry Represents $1.02 Trillion in Economic Output

U.S. Meat Industry Represents $1.02 Trillion in Economic Output

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A new study shows the U.S. meat and poultry industry accounts for $1.02 trillion in total economic output or 5.6 percent of gross domestic product. The analysis, commissioned by the North American Meat Institute, found the meat and poultry industry is responsible for 5.4 million jobs and $257 billion in wages. The report says that, not only does the meat and poultry industry create jobs, it also generates sizeable tax revenues in two forms.

Traditional direct taxes paid by firms and their employees provide over $108.4 billion in revenues to the federal, state and local governments. In addition, meat and poultry consumption generates $3.2 billion in state sales taxes.

The analysis is featured on Meat Fuels America dot com (www.meatfuelsamerica.com), and can be broken down by state or congressional districts on the website.

Source: NAFB News Service