{"id":4370,"date":"2016-05-24T13:54:30","date_gmt":"2016-05-24T13:54:30","guid":{"rendered":"https:\/\/grains.org\/ltamex\/study-corn-exports-add-74-7-billion-to-u-s-economy\/"},"modified":"2016-05-24T13:54:30","modified_gmt":"2016-05-24T13:54:30","slug":"study-corn-exports-add-74-7-billion-to-u-s-economy","status":"publish","type":"post","link":"https:\/\/grains.org\/ltamex\/study-corn-exports-add-74-7-billion-to-u-s-economy\/","title":{"rendered":"Study: Corn Exports Add $74.7 Billion To U.S. Economy"},"content":{"rendered":"

Exports of U.S. corn and corn products generated $74.7 billion in annual economic output in 2014, with sales of all U.S. feed grain products contributing $82 billion, according to a new analysis<\/a> conducted by Informa Economics.<\/span><\/p>\n

According to the analysis, the export of corn and corn products increased the U.S. gross domestic product (GDP) by $29.8 billion over what would have occurred without such exports. The number of full-time equivalent jobs linked directly or indirectly to corn exports totaled 332,787.<\/span><\/p>\n

All feed grains examined \u00e2\u20ac\u201c corn, corn products, sorghum and barley \u00e2\u20ac\u201c increased the U.S. GDP by $33 billion over what would have otherwise occurred, affecting 371,536 jobs. <\/p>\n

\u00e2\u20ac\u0153Corn \u00e2\u20ac\u201c whether in the form of feed, ethanol, or meat and dairy \u00e2\u20ac\u201c is a major driver of the U.S. farm economy. Exports impact not just farmers and ranchers, but the entire U.S. economy,\u00e2\u20ac\ufffd said National Corn Growers Association President Chip Bowling, a farmer from Newburg, Maryland. \u00e2\u20ac\u0153That\u00e2\u20ac\u2122s why it\u00e2\u20ac\u2122s 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.\u00e2\u20ac\ufffd<\/p>\n

The study, which was commission by the National Corn Growers Association (NCGA) and the U.S. Grains Council (USGC), quantifies the economic benefits nationally and to each U.S. state and selected Congressional districts of grain exports, showing results for corn, ethanol and its byproduct distiller\u00e2\u20ac\u2122s dried grains with solubles (DDGS), corn gluten feed and the corn equivalent of meats, in addition to sorghum and barley.<\/span><\/p>\n

Every $1 in exports of grains and grain products generates an additional $3.23 in business sales across the U.S., the study found. The positive economic effects of corn exports benefit not only agriculture, but also wholesale trade, real estate, oil and natural gas production, and the banking and financial industries.<\/p>\n

\u00e2\u20ac\u0153Farming is a global business, and this study shows how immense the impact of grain exports is on not just the agriculture economy, but our national economy,\u00e2\u20ac\ufffd said Alan Tiemann, USGC chairman and a farmer in Nebraska. \u00e2\u20ac\u0153The work our industry does to build new markets and grow our relationships with those overseas who rely on U.S. grains is critical for U.S. farmers\u00e2\u20ac\u2122 profitability.\u00e2\u20ac\ufffd <\/p>\n

The study also touched on the negative consequences to reducing exports of grain products, showing that if these exports were suddenly halted, more than 47,000 jobs and $2.8 billion in GDP would be lost in the farming, ethanol production and meat production industries alone.<\/p>\n

Bowling said this study underscores the need for the Trans-Pacific Partnership, the pending trade agreement with 11 other countries that will expand farmers\u00e2\u20ac\u2122 market access to the Asia-Pacific region.<\/p>\n

\u00e2\u20ac\u0153America\u00e2\u20ac\u2122s farmers and ranchers have a lot to gain from new trade agreements such as TPP, but there is also a consequence for not moving forward,\u00e2\u20ac\ufffd Bowling said. \u00e2\u20ac\u0153Every day we delay TPP means lost markets, which this study demonstrates has a ripple effect throughout the farm economy. That\u00e2\u20ac\u2122s why Congress needs to act. The sooner TPP is passed, the better for America\u00e2\u20ac\u2122s farmers and ranchers.\u00e2\u20ac\ufffd<\/p>\n

The full analysis is available online here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Exports of U.S. corn and corn products generated $74.7 billion in annual economic output in 2014, with sales of all U.S. feed grain products contributing $82 billion, according to a new analysis conducted by Informa Economics. According to the analysis, the export of corn and corn products increased the U.S. gross domestic product (GDP) by … <\/p>\n

Continue reading “Study: Corn Exports Add $74.7 Billion To U.S. Economy”<\/span><\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[],"tags":[],"commodity":[],"country":[],"region":[],"topic":[],"class_list":["post-4370","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nStudy: Corn Exports Add $74.7 Billion To U.S. Economy - Am\u00e9rica Latina<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/grains.org\/ltamex\/study-corn-exports-add-74-7-billion-to-u-s-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Study: Corn Exports Add $74.7 Billion To U.S. Economy - Am\u00e9rica Latina\" \/>\n<meta property=\"og:description\" content=\"Exports of U.S. corn and corn products generated $74.7 billion in annual economic output in 2014, with sales of all U.S. feed grain products contributing $82 billion, according to a new analysis conducted by Informa Economics. 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