Dairy is an economic powerhouse
In the economic engine that is the U.S., 3% of America’s gross domestic product (GDP) is supported by the dairy industry, reports the International Dairy Foods Association (IDFA). That figure comes from the industry’s $793.75 billion economic impact.
Every two years, IDFA conducts its Economic Impact Study to measure the combined influence of dairy production and processing. This year’s report shows that the industry has grown significantly since 2021, highlighted by nearly 60,000 new jobs and 11% higher wages. That contributed to a $41 million climb in total economic impact.
The industry supports 3.2 million jobs in all, with 1.078 million of those in dairy manufacturing and 2.122 million on farms and in other capacities.
July 10, 2023