#524. Illinois Agriculture Economic Contribution

Illinois Agricultural Economic Contribution

The 2015 Illinois Agriculture Economic Contribution study was completed by Decision Innovation Solutions to show the overall economic contribution of agriculture to Illinois’ economy. Below is their summary.

The results of this analysis show that agriculture is a critical component of Illinois’ overall economic well-being. Illinois agriculture is connected to a large integrated set of industries – from the production of agricultural commodities to food and feed processing to agricultural input manufacturing and many other ag-support industries. The results of the analysis indicate that diminishment or removal of any one of them will likely cause significant negative impacts to the others.

This study is based on a combination of datasets from the USDA 2012 Census of Agriculture and the IMPLAN modeling system. The analysis also shows that Illinois has an agricultural resource base that continues to grow with and support the state’s economy at large, primarily due to its integration across all sectors of the economy. Given the vitality of Illinois’ agricultural industries, it is reasonable to assume that Illinois’ agricultural base has room for continued growth and will remain a key part of the state’s economic well-being.

Key Findings:

• * In 2012, total production agriculture and ag-related industries accounted for $120.9 billion, or 9.6 percent of Illinois’ total output
• * Farming provides the base for a variety of agriculture industries, including food processing and the manufacture of farm machinery, chemicals and fertilizer. Taking those jobs into account means that in 2012, production agriculture and ag-related industries accounted for 432,831 jobs, or about 1 in every 17 jobs in Illinois.
• * Crop farming is a significant part of agriculture’s economic contribution. Statewide output attributed to crop production and further processing is more than $56.7 billion and is responsible for 197,353 jobs.
• * Livestock farming is also a significant part of agriculture’s economic contribution. Statewide output attributed to livestock production and further processing is $14.1 billion and is responsible for 52,124 jobs.
• * 24 of Illinois’ counties derive at least one third of their total output from agriculture and agriculture-related industries.
• 12 of Illinois’ counties derive at least one fifth of their total jobs from agriculture and agriculture-related industries.

Agriculture is a significant part of the Illinois economy. As you may know, Agracel began as a farmland investment company, and our name “Agracel” is derived from “Agriculture and Excel”. While our focus has turned from farm ground to industrial development in rural America, we believe firmly in the principals set forth by our agricultural heritage. The name Agracel ties us to the land and the good things that farmers stand for.

Full report.