Exporting corn and corn products doesn’t just help improve a farmer’s bottom line, it provides a jolt to the entire U.S. economy. A new study from Informa Economics concluded that the export of U.S. corn and corn products generated $74.7 billion in annual economic output in 2014.
Sales of all U.S. grain feed products contributed $82 billion. The U.S. gross domestic product was boosted by $29.8 billion thanks to the export of corn and corn co-products. Full-time jobs linked directly or indirectly to corn exports totaled more than 371,000.
Here’s National Corn Growers Association President Chip Bowling commenting on the study:
“Corn – whether in the form of feed, ethanol, or meat and dairy – is a major driver of the U.S. farm economy. Exports impact not just farmers and ranchers, but the entire U.S. economy,” said National Corn Growers Association President Chip Bowling, a farmer from Newburg, Maryland. “That’s why it’s so important that farmers and ranchers have access to international markets, and why we need global trade agreements such as the Trans-Pacific Partnership that give us a chance to compete.”