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The National Potato Council (NPC) today announced the release of “Measuring the Economic Significance of the U.S. Potato Industry,” a comprehensive analysis on the domestic economic impact of potatoes. The analysis, authored by economists from Michigan State University, marks a groundbreaking comprehensive assessment on the national economic contribution of America’s favorite vegetable.
According to the report, the U.S. potato sector is a driving force of America’s economic prosperity, with an estimated contribution of $100.9 billion in 2021. This contribution stems from the following direct and indirect economic activity:
- $10.8 billion in agriculture production and agribusiness services
- $49.1 billion in processing, wholesaling, and retail
- $41 billion in food service industries and household consumption
According to the analysis, the U.S. potato sector is responsible for generating an estimated 714,000 domestic jobs and providing wages of $34.1 billion annually to those employed along its supply chain. An impressive 0.4% of the entire U.S. workforce relies on the potato industry for their livelihoods, contributing $53 million towards annual GDP growth.
Notably, farm production itself makes up approximately 10 percent ($10.8 billion) of the total economic contribution of the potato supply chain, underscoring the significance of largely family-owned potato farms as rural job creators and wealth generators throughout the U.S. economy.
Read highlights and download the full report HERE.
