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Dairy Farm Production Supports More Than 120,000 Jobs Across Wisconsin
MADISON, Wis., Nov. 19, 2024 /PRNewswire/ -- The overall economic impact of Wisconsin's dairy industry is bigger than ever, and dairy remains the leading sector of Wisconsin agriculture. This newly released data is from the Contribution of Agriculture to the Wisconsin Economy: An Update for 2022, conducted by the University of Wisconsin-Madison Department of Agriculture and Applied Economics.
Dairy generates almost half of the state's annual industrial agricultural revenue – and represents nearly 6.5% of the state's total. Despite recent milk price challenges and the Pandemic, the report shows that dairy continues to significantly impact local Wisconsin communities. According to the report, total agricultural economic impact grew by 11% to $116.28 billion, with dairy's impact rising 16% to $52.8 billion.
The $52.8 billion economic impact is comparable to some of the largest global companies. For example, Nike and American Airlines each have annual revenues of about $50 billion. Wisconsin's dairy industry is on par with these recognizable brands in terms of economic impact, making it a true powerhouse in comparison.
"Thanks to our dedicated dairy farm families this report underscores the importance of cheese and dairy to our state's economy," says Dairy Farmers of Wisconsin CEO Chad Vincent. "Our collective efforts continue to strengthen Wisconsin's reputation as the premier dairy state and we will continue to innovate, inspire, and lead the way in delivering the finest dairy products to consumers across the globe."
Wisconsin's dairy industry supports 120,700 jobs and every dollar generated by the dairy industry contributes an additional ninety-three cents in revenue for the state.
"One of Wisconsin's strengths is the diversity of our agricultural industry, but Wisconsin proudly wears the title of America's Dairyland," said Randy Romanski, Secretary of the Wisconsin Department of Agriculture, Trade and Consumer Protection. "This report further confirms the impact of our dairy industry on our state's economy. The hard work of Wisconsin's dairy farmers, haulers, and processors contributes to the impressive economic impact of our dairy industry."
Additional key findings from the report include:
Wisconsin's dairy heritage dates back generations; today, the state leads the nation in dairy innovation and has distinguished itself over the past two decades by winning more cheese awards than any other state or country for its more than 600 types, styles, and varieties of cheese.
The research, The Contribution of Agriculture to the Wisconsin Economy: An Update for 2022, and The Contribution of Dairy to the Wisconsin Economy, completed by the UW-Madison Department of Agricultural and Applied Economics at the College of Agricultural & Life Sciences in collaboration with UW-Extension, provides an economic accounting of Wisconsin's agricultural and dairy industries.
About Dairy Farmers of Wisconsin: Dairy Farmers of Wisconsin exists to be a tireless advocate, marketer, and promoter for Wisconsin dairy farmers and to drive demand for Wisconsin's dairy products. The organization represents Wisconsin farm families and works to increase the sale and consumption of Wisconsin milk and dairy products, as well as build trust in dairy farmers and the industry. For more information, visit wisconsindairy.org and follow us on Facebook.
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SOURCE Dairy Farmers of Wisconsin