|
The food and agriculture industry contributes about $91.4 billion to Michigan's economy according to an updated Michigan State University (MSU) study. That's an increase of more than 50 percent between 2004 and 2010. This sector also accounts for more than 923,000 jobs both directly, indirectly and through induced activity.
The food and agricultural system is complex and interconnected. For the study, which was conducted by the MSU Product Center, economists use the latest available data and applied multipliers from IMPLAN (a company that specializes in economic impact software) to determine indirect and induced effects of the sector - common standards used by other business sectors.
The bottom line: Michigan's food and agriculture system is a major contributor to income and employment in our economy.
© 2013 Varnum LLPAbout the Author
