Economic Impact of Livestock to Indiana
Soybean meal plays an important role in animal agriculture in Indiana, which in turn has a significant impact on the state’s economy.
- At the state level, animal agriculture represented $7.0 billion in revenues, $1.2 billion in household income, and 32,600 jobs. In addition, it yielded an estimated $287 million in income taxes, and $208 million in property taxes; and
- Over the past decade, the expansion of animal agriculture in Indiana has led to increases of $1.6 billion in economic output, $271 million in household wages, 7,200 jobs, and $64 million in tax revenue.
Source: United Soybean Board (2011 data)
Cost of Community Services Study
This study provides the first-ever look at the fiscal contribution of different land uses in nearly all Indiana counties (91 in total). Agricultural land has an overall positive impact on Indiana communities, as agriculture pays more in revenues than the costs it imposes or the services it receives.