The American Bakers Association (in collaboration with John Dunham & Associates) has released a comprehensive report detailing the significant economic contributions of the baking industry in the United States for 2023.
“The report underscores the vital role the baking industry plays in the U.S. economy, not only in terms of employment but also in its broader economic and fiscal contributions,” says Eric Dell, ABA president and CEO.
Key findings shared in the document include:
- The baking industry directly employs 789,054 people, contributing to wages totaling $42.82 billion.
- The direct economic impact of the baking industry is $186.83 billion.
- The industry also supports 752,593 jobs in various supplier sectors, contributing an additional $57.29 billion in wages and $211.99 billion in economic impact.
- Induced impacts account for 635,272 jobs, $43.46 billion in wages, and $134.35 billion in economic impact.
- Combining all these factors, the total economic impact of the baking industry is a staggering $533.18 billion.
- The industry contributes $49.07 billion in federal and state taxes.
"Despite the challenges we've faced, the baking industry has remained a cornerstone of the American economy. The baking community not only feeds America's families but also fuels our nation's economic engine. We urge policymakers to consider this significant economic impact in future policy decisions," Dell says.
