A first-of-its-kind economic impact study, conducted by John Dunham and Associates for The Fertilizer Institute (TFI), has found the fertilizer industry contributed over US$162 billion and 515 900 jobs to the US economy in 2014.
The scope of the study included the direct contribution, supplier contribution and downstream positive impact of the entire industry value chain – from manufacturers to wholesalers, retailers and goods and services suppliers.
The entire fertilizer industry directly employs nearly 85 000 people who produce over US$68 billion in output. The nation’s fertilizer retailers alone support in excess of 43 000 jobs with a total annual payroll of US$23 billion. Fertilizer manufacturers and wholesalers combined contribute another 41 000 jobs with a combined annual economic impact of US$46 billion.
“We are proud of the economic contribution the fertilizer industry makes to the US economy and the good jobs that it provides,” TFI President Chris Jahn said. “We are excited to be able to share this first of its kind report as it will serve as a valuable resource not just to those in the industry, but also to lawmakers and regulators here in Washington DC and around the country.”
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/05062016/fertilizer-industry-supports-over-half-a-million-us-jobs/