The U.S. grain and feed industry contributes $401.7 billion to the national economy and supports 1.16 million jobs, according to a new economic impact study released Tuesday by the National Grain and Feed Association.
The report, titled "The Harvest Economy," reveals that the industry accounts for 1.3 percent of U.S. GDP while generating $85.9 billion in wages and benefits and contributing $32.7 billion in taxes to federal, state and local governments.
"Grain and feed companies transform America's harvest into economic opportunity," said NGFA President and CEO Mike Seyfert. "This new study quantifies what many of us already know – that our industry is essential to rural communities, domestic and global food security, and the U.S. economy."
Conducted by John Dunham & Associates, the study identifies 9,683 grain and feed facilities across the United States. The 175,737 people directly employed by these facilities earn an average of $84,768 annually.
NGFA also launched a redesigned website featuring an interactive platform that allows users to explore economic data by state and congressional district.
