A new analysis released today shows that canola’s total annual impact on the Manitoba economy is now $4.2 billion, and that nearly 37,000 jobs and $1.5 million in wages in the province can be traced back to the canola industry.
The analysis was developed for the Canola Council of Canada by LMC international, a leading agri-business research firm. LMC used best practices to estimate the total benefits rippling through the economy as Canadian-grown canola is developed, grown, processed and marketed. The latest report was based on data from three crop years: 2012/13, 2013/14 and 2014/15.
“Canola is stimulating the growth of jobs and opportunity for thousands of Manitobans who may not be aware that part of their livelihood is linked to agriculture,” said Brian Innes, the Canola Council’s vice president of government relations. “In fact, the canola value chain generates a substantial amount of economic activity, and the benefits are felt in many different industries.”
More than half of the jobs stimulated by canola in this province are generated by the business of canola farming, which leads to investment in things such as research, seed development, equipment, crop inputs and farm management services. As the wages from these jobs are spent, the effects ripple all through the Manitoba economy.
LMC found that Manitoba also benefits significantly from the canola processing and refining sectors. The economic impact of these operations in Manitoba is $990 million, second only to Saskatchewan, where most canola processing capacity is located.
In total, canola’s contribution to the Canadian economy as a whole now surpasses $26.7 billion a year – more than triple the impact of the industry a decade ago.
Source : Manitoba Canola Growers