One in Five: How Agriculture Powers the American Economy

Ten years in, the Feeding the Economy report is still turning heads. Released annually on Ag Day and sponsored by approximately 35 national agriculture and food organizations, the report paints a sweeping picture of just how deeply American agriculture is woven into the fabric of the U.S. economy. In the latest episode of IL Corn TV, host Lindsay Croke sat down with Corn Refiners Association President and CEO John Bode to break down what the 10th anniversary edition reveals and why the numbers matter more than ever for Illinois farmers.

The scale of American agriculture's economic footprint might surprise even those who live and breathe it every day. Bode put it plainly: agriculture isn't a niche sector, it's a cornerstone.

• ~20% of the entire U.S. economy is tied to American agriculture and related industries
• 1 in 5 American jobs connects back to the food and agriculture system
• $10.4 trillion in total economic activity generated
• Agriculture manufacturing is the largest segment of American manufacturing — with 2.5x more jobs than the auto industry
• Wages across the sector grew 4% year-over-year and 13% over the last decade

While the big-picture numbers are impressive, Bode was candid about where the cracks are forming, particularly in ag production wages and export performance. "If ag production is in trouble, then our house is falling apart," Bode said. "We can't let that happen." It's a message that will resonate with Illinois farmers who have felt the economic pressure firsthand. The report shows that while overall agricultural wages have grown, there has been downward pressure specifically in ag production which is a trend that deserves focused attention from policymakers and industry leaders alike.

Perhaps the most forward-looking part of the conversation centered on what Bode called the "future market" or the bioeconomy. From ethanol to plant-based packaging, American corn is uniquely positioned to lead. "Ethanol is the point of the spear," Bode said, "but there are hundreds, thousands of other renewable products coming behind." He noted that while much of the science driving the bioeconomy has been developed in the U.S., commercialization has largely happened overseas in Asia and Europe. Closing that gap, Bode argued, is one of the most important opportunities in front of the American agriculture industry today. For Illinois corn growers, it's a compelling reason to think beyond the bushel.

Watch the Full Episode

Catch the full conversation with John Bode on IL Corn TV and visit feedingtheeconomy.com to explore the complete report and its data.