business news in context, analysis with attitude

The Food Marketing Institute (FMI) yesterday released a new study saying that “more than one-fifth (or 20.4%) of the nation’s economy is linked, either directly or indirectly, to the food and agriculture sectors and that more than one-fourth of all American jobs (28%) are similarly connected.”

The study concluded that these sectors are responsible for more than 43 million jobs, $1.9 trillion in wages, and $894.13 billion in paid taxes - representing $6.7 trillion in total economic impact.

“This historic farm-to-fork economic analysis quantifies the impact of the jobs, wages, taxes and exports the industry makes possible,” says Leslie G. Sarasin, FMI’s president/CEO.  “As policymakers consider tax reform and other means to expand economic activity, I hope they will have a better understanding of how the food and agriculture sector not only feeds Americans, but also feeds the U.S. economy.”
KC's View: