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Wed April 11, 2012
MSU report shows agriculture contributed $91.4 billion to Michigan economy
A new Michigan State University study shows Michigan’s agriculture industry has grown dramatically throughout the recession.
Agriculture contributed a little more than $91.4 billion to Michigan’s economy in 2010. The economic impact of farming, food processing and the supply chain is twice as much as it was in 2004.
“(Agriculture’s) critical to what’s happening in the state. And the story about our growth I think is significant versus other sectors of the state’s economy that have clearly been in decline,” said Chris Peterson, director of the MSU Product Center. The center helps agriculture businesses get new products to market.
Peterson says growing demand for food in big countries like China and India are a major factor in agriculture’s growth in Michigan. He says farmers and processors have also become more productive.
The latest report shows 618,000 jobs come directly from Michigan’s food and agriculture business sector.