Corn Exports Add $74 Billion to Economy

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US corn and corn product exports generated $74.7 billion in economic output in 2014. According to a study by Informa Economics, sales of all US feed grain products added $82 billion to the economy. The analysis says corn and corn product exports added 29.8 billion dollars to the GDP over what would have happened without those exports. The number of full-time jobs linked to those exports, either directly or indirectly, numbered over 330,000. The study also found that for every $1 of grain exports, it adds $3.23 in business sales across the US. The same study also found that if these exports were halted, over 47,000 jobs would be lost and $2.8 billion in GDP would be lost in the farming, ethanol production, and meat production industries alone. NCGA President Chip Bowling said the report underscores the need to approve the TPP, which would give farmers more access to the Asia/Pacific region.