Agriculture has $40 billion impact in New Mexico

On March 21, 25 food and agriculture groups released the seventh annual Feeding the Economy report, revealing food and agriculture industries and their suppliers contribute more than $8.6 trillion to the U.S. economy, nearly one-fifth of total national output and a 22 percent increase since the 2019 report.

In New Mexico, agriculture generates 257,697 jobs with total wages of $11.52 billion, total business taxes of $4.13 billion, exports of $275 million and a total food and ag industry economic impact of $40.23 billion, the New Mexico Department of Agriculture said in a news release.

“Our state’s food and agriculture industry continues to show resiliency,” said New Mexico Agriculture Secretary Jeff Witte. “When we sit down to eat a meal, it’s important to remember all the work it took to get that food from the farm to our plates.”

“We are still farming and ranching, despite the many challenges New Mexico farmers and ranchers have faced,” said New Mexico Farm and Livestock Bureau President Larry Reagan. “I am proud that agriculture is rising to the challenge of feeding, clothing and fueling our communities and world while supporting our rural economies and stewarding our natural resources.”

“Agriculture is one of the most efficient industrial processes that we have in the world,” New Mexico State University College of Agricultural, Consumer and Environmental Sciences Dean Rolando Flores Galarza told the Bulletin. “Especially in our country, where it only takes less than two percent of the U.S population to feed millions of citizens in the U.S. and the world; thus, is a clear statement on the importance of agriculture that allows the other 98 percent of the U.S. population to be dedicated to activities other than agriculture. In the U.S, the success of the agriculture and food systems is based on the work of the land grant universities strengthened on the development of research, teaching, extension and outreach.”

“It is not surprising that agriculture is a key economic driver, especially here in New Mexico,” said New Mexico Cattle Growers’ Association President Loren Patterson. “Beef cattle ranches operate in every county in New Mexico. We are an innovative industry, combining science and artistry to produce not only abundant food for every fork, but precious food that inspires our culinary arts and cultural traditions. It was the first industry in our state and one which is perpetually evolving.”

The report shows the U.S. food and agriculture sector directly supports nearly 23 million jobs, provides $927 billion in wages, and is particularly vital to rural communities across America. Notably, the 2023 report reveals that the manufacturing of agricultural products accounts for nearly one-fifth of total manufacturing jobs in the U.S. Overall, more than 46 million jobs are supported across the food and agriculture supply chain, increasing nearly two percent since the 2019 report despite the economic challenges and disruptions associated with the pandemic.

 The strength and growth highlighted in this year’s report reinforce that agriculture is evolving and innovating to meet the demands of the 21st century, the news release said. According to the U.S. Department of Agriculture, land use for agriculture decreased by 28 percent 1948-2019, while land productivity grew nearly four times and labor productivity grew more than 10 times.

Visit www.FeedingTheEconomy.com.