The Rural Blog
The U.S. food and agriculture industries will produce $10.4 trillion for the economy in 2026, backing 48.7 million jobs, reports Feed & Grain staff.
Despite rising inflation and global trade pressures, the sector makes up almost 20% of the national economy, increasing profits by $894 billion each year, according to data from the Feeding the Economy report.
Food manufacturing is the largest manufacturing sector in the country, from two million farms and ranches to 200,000 food manufacturing, processing and storage facilities. It also includes more than one million restaurants and foodservice establishments, and 200,000 retail food stores.
Some of the highlights from the report show the food and agriculture sector generating:
• More than $177.3 billion worth of exports
• More than $3 trillion in workers’ wages
• 6.5% growth in direct employment over the last decade
• 4% yearly rise in wages and 13% rise over the last decade, surpassing inflation
• $1.35 trillion in tax revenue for federal, state and local governments, increasing 7% each year
Many rural communities rely on food and agriculture revenue as the backbone of their local economy, with wages reinvested to support local housing, healthcare, education, small businesses and infrastructure, reports Feeding the Economy. “From farm to factory and truck to table, food and agriculture’s impact sustains jobs, powers commerce, and strengthens communities across America.”
The Rural Blog is a service of the Institute for Rural Journalism, based at the University of Kentucky.
Featured photo: From feedingtheeconomy.com