Agri-business acts as economic engine
The latest Minnesota Livestock Industry Benchmark Report, produced by the Minnesota Agri-Growth Council, found Minnesota’s animal agriculture industry continues to create value by serving as an economic engine for the state, employing thousands of Minnesotans and contributing billions in revenue annually.
In 2003, the Minnesota Agri-Growth Council and the University of Minnesota joined together to provide the first ever overview and measurement of the economic impact of the livestock industry in Minnesota. Eight years later, the Agri-Growth Council has worked with the University of Minnesota’s Brian Buhr to complete a follow-up study to track changes and trends across the various industry sectors.
Highlights from the report include:
➤ Animal agriculture provides nearly $8 billion in total direct economic value added and supports nearly 35,000 jobs in direct employment, as well as many thousands more in indirect employment.
➤ Minnesota is poised to become the No. 2 producer of pork in the country. Pork production has experienced the greatest growth in economic impact — nearly double 2002 numbers — at $2.35 billion. Nearly one-third of pork producers are based in Minnesota.
➤ Minnesota is the No. 1 producer of turkeys in the United States. The economic impact from turkey production is up to $807 million, a significant climb from $507 million in 2002.
➤ Direct economic impact from dairy production has grown by more than $27 million since 2002 to $3.27 billion.
➤ For the first time, economic impact from beef now tops $1 billion. Minnesota has moved up the ranks since 2003, now ranked No. 9 in cattle on feed and No. 25 in beef cow inventories.
➤ Minnesota ranks No. 7 in the country in egg production. Two of the top egg companies are headquartered in Minnesota.
Overall, the latest industry benchmark report tells us that while challenges remain, Minnesota is positioned for continued success in animal agriculture.
For the full report go to www.agrigrowth.org/pdf/FullLivestockReport2012.pdf.