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.”
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:
