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The National Potato Council (NPC) today revealed its latest report on the economic impact of the U.S. potato industry. The report assessed the economic contribution of U.S. potato and potato product exports and analyzed the role that expanded trade opportunities would have on U.S. GDP and jobs.
“The Current and Potential Impact of Expanded Potato Exports,” authored by economists at Michigan State University, found that:
- current exports of U.S. potatoes and potato products generate around $4.78 billion in economic activity and support nearly 34,000 domestic jobs; and,
- moderate and achievable expansions in foreign market access would generate an additional $1 billion in economic activity and support 5,600 more U.S. jobs.
Access to foreign markets is a major economic engine for the U.S. potato sector, with approximately 20 percent of all U.S.-grown potatoes exported. The new report found that those exports generate around $4.78 billion in economic activity and support nearly 34,000 U.S. jobs.
Using moderate and achievable expansions in trade access to new and existing trade partners, including Canada, Japan, Mexico, South Korea, and other East Asian and Middle Eastern countries, the report found an additional $1 billion and 5,600 domestic jobs could be created by the U.S. potato industry, a 21 percent increase over current levels.
The report and its highlights can be found and downloaded at NationalPotatoCouncil.org/SpudNation.
