BLOOMINGTON, Ill. — The Illinois Soybean Association checkoff program is using its just-launched #SoyFromIllinois campaign to grow awareness around the numerous ways soybean production impacts the Illinois and U.S. economy.
According to Andrew Larson, ISA’s director of market development and public policy, Illinois annually generates more than $4 billion in soybean production revenue.
“Soy plays an incredible role in Illinois, and because of its versatility, is used in numerous ways including biodiesel, animal agriculture and more,” Larson said. “Today, soy production accounts for 57,400 employment opportunities across the state, including farmers, agricultural suppliers, transporters, product manufacturers, investors, communications professionals and universities. The impact our Illinois soybean farmers make echoes on a national scale.”
At a national level annually, the soybean industry employs 357,000 people, including 280,000 full-time equivalent positions at national crush facilities, not to mention thousands of soybean growers themselves.
The total wage impact of the soybean sector averages $11.6 billion, and the soybean value chain contributes $7.48 billion to gross state product annually.
The national soybean sector has a total impact on America’s economy of almost $116 billion, according to a study by the National Oilseed Processors Association.
This summer, watch for more updates on ISA’s #SoyFromIllinois campaign as it peels back even more benefits on Illinois soy’s economic and social impacts.