New Study Ranks Illinois as #1 in Total Economic Output in the U.S.

Aug 08, 2024

Corn farming is one of the largest sectors in American agriculture. The nation’s corn farmers bolster the economy and help build strong communities. There are firms in 524 industry sectors across all 50 states and the District of Columbia with linkages to corn grain farming.

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In 2023, Illinois farmers produced 2.27 billion bushels of corn, slightly up from the previous year, with an average yield of 206 bushels per acre. While Illinois ranks number two in corn production, it is number one in total economic output contribution due to corn farming, along with its upstream supply chain and household linkages.

Why is Being #1 in Economic Output So Important?

Being number one in economic output means:

More jobs
A stronger economy
Global influence
Technological advancements
Thriving communities
Better environmental practices

Just like a winning team brings pride and benefits to its supporters, Illinois’s success in corn farming brings significant advantages to the state and its residents.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.