Economic Multipliers and Contributions from Wheat Exports and Farming
|Output/Sales||$1 exported = $1.93 in sales||$800 million|
|Jobs||$1 million exported = 9.8||4,000|
|Value Added||$1 exported = $0.78||$330 Million|
The economic impact of Idaho’s wheat industry is calculated by taking the total dollar amount generated by wheat and applying multipliers. Both the economic multipliers and the contribution are calculated by the reach of the wheat industry both directly and indirectly – the wheat grower, the fertilizer dealer, seed dealer, fuel supplier, grocery store, restaurant, etc.
- For every dollar of wheat exports, $1.93 of sales are generated in the Idaho economy.
- For every $1 million of wheat exports, 9.8 jobs are created in the Idaho economy.
- Value added is the same as Gross Domestic Product. For every dollar of wheat exports, $0.78 of value-added is created in the Idaho economy.
- The output or sales contribution of wheat farming is more than $800 million.
- The jobs contribution of wheat farming is more than 4,000 jobs.
- The value-added or GDP contribution is nearly $330 million.