Economic impact study reveals new data on jobs, wages, economic output

LAS CRUCES, New Mexico (KVIA) -- A 2024 report’s findings show the total economic impact for the food and agriculture-related industries grew 11.8% over the last year, meaning it reached $9.63 trillion. This would represent 20.01% of total U.S. output. The eighth annual Feeding the Economy report was released by thirty-two food and agriculture groups. A historic farm-to-fork economic impact study that says they help to estimate the direct and indirect economic contributions of the food and agriculture industries on jobs, wages, economic output and business taxes.

“Our state’s food and agriculture industry is a thriving, integral component of the local economy, as this lates report shows increases in jobs, wages and overall economic impact of the ag industry,” said New Mexico Agriculture Secretary Jeff Witte. “When we sit down to eat a meal, it’s important to remember all the work it took to get that food from the farm to our plates.”

The report say from the 2020 feeding the economy report to now, food and agriculture manufacturing jobs grew at a faster rate than any other job category. Therefore, the manufacturing of agricultural production now accounts for almost 20% of America’s manufacturing jobs.

“Agriculture matters, not just as an integral part of the economy as shown in this latest report, but as the foundation that provides the food we eat, the clothes we wear and the fuel that powers our lives,” said New Mexico Farm and Livestock Bureau President Larry Reagan. “Despite challenges, we are still farming and ranching and are supporting our rural economies and stewarding our natural resources while doing so.”