Corn refining industry's $54.5B economic output helps strengthen rural America
As U.S. corn farmers wrap up the most bountiful harvest on record, the Corn Refiners Association (CRA) releases its 2016 Corn Annual: Strengthening the Fabric of Our Nation. The report highlights results of an economic impact study conducted by Agralytica showing an industry economic output of $54.5 billion. The report details contributions from the industry to the economy in terms of sales, jobs, salaries, purchases, taxes and charitable contributions.
The vast majority of corn refining facilities are located in the Corn Belt where jobs—particularly good-paying, stable jobs—are important. In the United States, the industry directly employs nearly 8,000 people with salaries and wages close to $1 billion. Further, every job directly supported by the corn refining industry adds an additional 32.6 jobs across the U.S. contributing an additional $12.5 billion in incomes.
To learn more about the economic impact of the industry on local communities, CRA interviewed employees, local government officials and charitable organizations. We found that the strength and stability of companies that employ multi-generations of families contributes to the vitality, spirit and social fabric of the communities where they operate.
“As an embedded partner in the corn value chain, we want to see America’s heartland thrive and depend on it,” says CRA President and CEO John Bode. “Our economic footprint has a very positive impact on our local communities. The commitment to our communities and social good brought by the people of the corn refining industry are what really define this successful relationship.”
The 2016 Corn Annual is available at http://www.corn.org/publications.