Report: Corn growers responsible for $151 billion boost to economy 

By Chris Cherry, President 
Indiana Corn Growers Association 

Earlier this month, I traveled with several other Hoosier corn farmers to Washington, D.C. for a couple of events. First, I was part of our Indiana delegation to the National Corn Growers Association’s (NCGA) Corn Congress. And second, the farmers in this delegation visited the legislative staffs of our state’s elected senators and representative at their Capitol Hill offices. 

During this trip, we covered many topics. The pending, but seemingly never-ending, 2024 Farm Bill is always top of mind these days. The regulation of valuable tools, such as herbicides and pesticides, was discussed. And also, we talked about the need for more export markets for U.S. corn and how Congress and the Biden Administration could work together to make that happen. 

One of the things we didn’t have to convince too many people about was the value of corn production in the United States. 

According to a new report recently released by the NCGA, U.S. corn farmers are responsible for a $151 billion boost to the U.S. economy in 2023. For those of us involved in the day-to-day operation of a farm, this news should not come as a surprise. 

We estimate that there are more than 20,000 corn farmers in Indiana. At least 94 percent of these farms are family owned and operated, and around 40 percent of those have been in the same family for three or more generations. This is why we refer to them as “family farms.” 

However, anyone who pays the bills on a farm knows that it is also a business. We are measuring our costs against risks and rewards. We’re managing labor, supplies, transportation and more. 

If you think of a farm as a small business, which every farm truly is, then it is much easier to see the impact of our work on the overall economy. 

The NCGA report, titled Corn Farming’s Economic Contribution Study for 2023, detailed a number of ways in which corn growers shape the U.S. economy, including economic output, contributions to the gross domestic product, tax revenues, labor income and employment statistics. 

Here are a few statistics from the report: 

• In 2023, U.S. corn farmers produced 15.3 billion bushels of corn, valued at $73.9 billion, across 289,382 farms dedicated to growing corn for grain. 

• Corn grower production directly contributed $20.7 billion to the gross domestic product and provided $12 billion in labor wages and benefits. 

• The economic impact of corn farming extended across 524 different industry sectors in all 50 states, reinforcing its broad influence on the national economy. 

Yet, this report comes as corn prices have dropped and corn growers face many challenges, including higher input costs, tariffs and some trade barriers. The report, however, should serve as a reminder to policymakers that corn grower contributions are important. 

Our farms remain deeply rooted in rural America where they drive economic growth. Farms inspire new technological innovation, expand commercial opportunities and build a bioeconomy. 

As we continue face challenges that need to be addressed by Congress and the Biden Administration, our message is to act on legislative and regulatory issues, like the farm bill, that will support our work. Join ICGA in our efforts to achieve these goals.