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 2016Corn 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.