Corn exports generate $302 million
U.S. corn exports generated $74.7 billion in annual economic output, and Wisconsin corn exports added $302 million to the state's economy, according to a new analysis conducted by Informa Economics IEG.
The study, which was commissioned by the National Corn Growers Association and the U.S. Grains Council, quantifies the economic contributions and benefits of the export of corn, ethanol, the co-product dried distillers grains (DDGs), corn gluten feed and the corn equivalent of meats. It shows these benefits at the national level and also the state and, in some cases, by congressional district. Read the U.S. report.
According to the analysis, Wisconsin exported $207 million in corn and corn products in 2014, increasing the economic output in the state by $302 million. The study indicated 741 jobs in the state were related to exports of corn and corn products. Read the state report.
Economic contribution results
In 2014, Wisconsin's corn and corn product exports were valued at $214.4 million — 4.1% of Wisconsin's corn and corn products production value.
The economic 'ripple effects' of these corn and corn products exports created:
✔ $301.9 million in economic output,
✔ $66.2 million in gross state product (GSP), and
✔ 741 full-time equivalent jobs in the state economy.
For every $1 million in exports of corn, ethanol, DDGS, corn gluten feed and the corn equivalent of meat exports, 3 jobs and $0.3 million of GSP are added within Wisconsin.
WCGA is a membership organization that represents the interest of state corn growers in the growing and managing of corn grown both for on-farm feeding and commercial sale. WCGA brings together corn growers to provide information and education at regional corn conferences and the annual Wisconsin Corn/Soy EXPO. As part of NCGA, WCGA represents corn grower interests nationally and internationally and also sponsors annual corn yield contests.
· $301.9 million in economic output
· $66.2 million in gross state product (GSP)
· 741 full-time equivalent jobs in the state economy