Minnesota’s corn farmers understand the importance of the export market for their commodity, with nearly a third of corn and corn products exported out of the country. A recent study highlighted the importance of the export market for Minnesota’s entire economy.
Commissioned by the National Corn Growers Association, the study found nearly 30 percent of the production value of Minnesota’s corn and corn products came from exports—a $1.7 billion value. The economic ripple effects of this export market in Minnesota created more than $3.1 billion in economic output, $1.1 billion in gross state product, and more than 12,700 jobs.
For every $1 million in exports of corn, ethanol, residual milling products and the corn equivalent of meat exports, seven jobs are supported within Minnesota. Export markets are one outlet for U.S. corn production, and they impact the entire farming value chain. Access to export markets supports jobs and economic activity in sectors including construction and maintenance, restaurants, hospitals, and retail stores, in addition to the transportation apparatus and industry that is in place to handle the outflows of corn products.
Click here to see more...