New Study Shows Impact Of Floral Industry On The Economy
Mass-market floral and fresh produce contribute more than $550 billion to the U.S. economy each year.
February 19, 2009
The U.S. fruit, vegetable and mass-market floral industry contributes more than $550 billion annually to the nation's economy according to a study from Battelle. The economic impact study of the industry was commissioned by Produce Marketing Association (PMA).
"Our industry has substantial economic and employment impact in the United States, contributing significantly to the economies of every state and congressional district in the country," said PMA President and CEO Bryan Silbermann.
The study determined the U.S. fresh produce and mass-market floral industry - everything from local growers to national grocery chains - accounts for more than $275 billion in direct economic output, and a total economic impact of more than $554 billion when its "ripple" effects - including suppliers' businesses and worker spending - are added. Every dollar of production value ultimately generates $16.75 of total economic value.
According to Kathy Means, PMA vice president for government relations and public affairs, the study pegs the industry's total impact at 4.23 percent of U.S. gross domestic product (GDP), and one-third of total U.S. animal and crop production. "We account for 1.9 percent of all U.S. employment, providing the equivalent of 2.7 million full-time positions, and nearly $72 billion in wages," she said.
To read more about the survey, click here.