National study shows ag's impact on U.S. & GA economies vital
By GFB, AFBF
Georgia’s farmers serve a healthy helping to the state economy, according to the 2022 Feeding the Economy Report, a national study released on March 22, National Ag Day.
The report shows that food and agriculture support 1,412,382 jobs in Georgia, providing $68.3 billion in wages, $21.3 billion in taxes and $4.2 billion in exports. All told, the state’s ag and food sectors have a $230.7 billion economic impact.
A group of 30 food and agriculture groups, including the American Farm Bureau Federation, released the sixth annual Feeding the Economy report, a historic farm-to-fork economic analysis revealing how these sectors influence the local and broader United States economies. Two years into the COVID-19 pandemic, this year’s study highlights how the industries remained resilient to provide Americans with jobs, economic opportunity and safe food.
This study sheds light for policymakers on how the food and agriculture sector not only feeds Americans, but also feeds the U.S. economy. The economic disruption of the COVID-19 pandemic has only served to further highlight the critical importance of the food and ag industries.
The economic impact study released March 22 shows that 17.77% of the nation’s economy and 29.14% of American jobs are linked to the food and agriculture sectors, either directly or indirectly. Additionally, the analysis broke down the food and agriculture sectors’ economic impact by state and congressional district.
Here are the key findings for each of Georgia’s 14 congressional districts:
1st District – 104,347 jobs, $4.5 billion in wages, $14.2 billion economic impact
2nd District – 101,973 jobs, $5.1 billion in wages, $20.1 billion economic impact
3rd District – 83,182 jobs, $3.8 billion in wages, $13.6 billion economic impact
4th District – 61,264 jobs, $2.9 billion in wages, $8.4 billion economic impact
5th District – 171,764 jobs, $9.8 billion in wages, $30.9 billion economic impact
6th District – 135,229 jobs, $6.7 billion in wages, $22.3 billion economic impact
7th District – 111,017 jobs, $5.6 billion in wages, $17.4 billion economic impact
8th District – 100,146 jobs, $4.6 billion in wages, $16.8 billion economic impact
9th District – 123,274 jobs, $6.1 billion in wages, $24.9 billion economic impact
10th District – 75,291 jobs, $3.4 billion in wages, $11.1 billion economic impact
11th District – 118,633 jobs, $5.5 billion in wages, $18.8 billion economic impact
12th District – 94,874 jobs, $4.2 billion in wages, $14.2 billion economic impact
13th District – 72,005 jobs, $3.3 billion in wages, $9.6 billion economic impact
14th District – 59,384 jobs, $2.6 billion in wages, $8.4 billion economic impact
To measure the total economic impact of the sectors, the analysis also includes the direct and indirect economic activity surrounding these industries, capturing both upstream and downstream activity. For example, when a farm equipment retailer hires new employees because farmers are buying more tractors, experts consider the new salaries an indirect impact. Similarly, when a retail associate spends her paycheck, an induced economic impact occurs. Together, these have a multiplier effect on the already formidable direct impact of food and agriculture.
The full analysis underscores the importance the food and agriculture industries have on jobs, wages, exports, and taxes in our nation. The data provided includes the indirect and induced economy activity surrounding these industries.
Visit www.FeedingTheEconomy.com to view the entire report.