Economic Impacts of Connecticut’s Agricultural Industry
In 2007 this analysis reveals that the total impact of Connecticut’s agricultural industry on the state economy ($212 billion Gross State Product) was up to $3.5 billion, measuring the value of agricultural output as statewide sales generated directly from the industry and through spillover effects on other industries. In addition, the industry contributes about $1.7 billion in value added, the difference between the value of output and the cost of raw materials, i.e., the money left in the hands of residents and business taxes, both of which stay in Connecticut. An additional model is a statistical model of the entire state economy that measures agriculture’s importance by estimating the loss of output and jobs if the sector were removed from the state’s economy.
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|Date of creation:||Sep 2010|
|Date of revision:|
|Contact details of provider:|| Postal: University of Connecticut 2100 Hillside Road, Unit 1240 Storrs, CT 06269-1240|
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Web page: http://ccea.uconn.edu/
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