Agribusiness study shows agriculture is economic driver for St. Louis metro area
Gateway to Economic Opportunities
June 22, 2010
A recent St. Louis Agribusiness Club economic study demonstrates how agriculture remains a thriving economic driver in a regional economy that has brought profound challenges to other industries.
The study found that in contrast to other industries that have suffered layoffs, foreign ownership or headquarters moving out of the region, agriculture has brought more jobs and revenue while making a significant global contribution.
The study highlights the important role agriculture plays in supporting a strong and stable economy in the St. Louis Metropolitan region, according to St. Louis Agribusiness Club President Cindy Myer. "While many other sectors such as the manufacturing and auto industries are feeling the pinch of the economy and shutting down operations that have provided employment to thousands of St. Louis residents, agriculture has managed to cushion the effects of the deflating economy. [It] continues to thrive as an industry, providing jobs to approximately 20% of our Metropolitan region while continuing to grow and prosper," Myer says.
The study, based on 2007 economic data, found that Agriculture in the St. Louis region is responsible for:
- $131.2 billion in farm production within 500 miles of St. Louis
- $75 billion global impact (comparable to more than 60% of local gross domestic product)
- 265,000 jobs created by agricultural operations in the Metro St Louis area (comparable to 20% of the total metropolitan employment
- 3,075,775 acres of farmland in the Metro area (56% of total land area)
- 12,686 farms in the Metro area
- 26,536 farm operators and farmhands
- $1.1 billion total market value of farm products (42% increase compared to 2002 census of agriculture)
- $842.1 million in farm production expenses.
"Many regional industries have struggled to adapt to changes in the business climate and remain economically competitive," Myer notes. "A key to agriculture's success has been the investment and advances that local industries have made in biotechnology, commodity trading and alternative energy."
