The important contribution of U.S. agriculture equipment manufacturing to the health of the nation's economy is demonstrated in a new economic paper produced by the Association of Equipment Manufacturers (AEM).
In an in-depth analysis of the economic footprint of the agriculture equipment industry, the paper quantifies the many-sided economic impacts of the manufacturing, distribution, and use of agriculture equipment and machinery. Including that in 2011, 78,200 people were directly employed in U.S. farm equipment manufacturing and the total economic footprint of the agricultural industry – including upstream and downstream industries – came in at $51 billion.
"The purpose of this white paper is to provide a better look at the agriculture equipment industry's effect on U.S. workers and our economy as a whole, with an eye toward better arming our policy makers in Washington with the information they need to make sound policy decisions that impact this critical sector," says AEM President Dennis Slater. "By measuring vital information such as the agriculture industry's ability to bounce back from the 'Great Recession,' direct and indirect employment and economic scope, we are able to better understand how we can grow jobs and keep this industry strong for generations to come," Slater continues. "This kind of information is vital to accurately assessing the potential long-term consequences of decisions being weighed as we are debating issues such as the renewable fuels standard and international trade agreements that directly impact the future of American agriculture."
To view the Top Ten Takeaways and the full Report, click here.