Vermont food industry responsible for 15 percent of state’s economy

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Vermont food industry responsible for 15 percent of state’s economy

Thu, 12/15/2011 - 6:21am -- tim

A recent report finds that Vermont’s food industry is responsible for 15 percent of Vermont’s economy, over 21,000 jobs and over $837 million in wages.  The report further shows that the food industry generates more than $202 million in state and local taxes and $166 million in federal taxes. 

Today, the Vermont Grocers’ Association releases the report conducted by John Dunham & Associates, located in New York.  The report finds that the food industry creates over 21,000 good paying jobs in the state when all of the economic lineages to suppliers are taken into account.  The food sector provides both large and small communities with a wide array of good and products ranging from fresh produce to boxed cereals to other basic household necessities.  
Jim Harrison, VGA president said, "The study confirms what we have long suspected, that the food industry, from processing to retail, represents a strong and important part of Vermont's economy. It not only touches every Vermonter on a daily basis with food, but also enhances our lives with an important contribution to the economic well being of our state." 
The report can be accessed at www.vtgrocers.org
The Food Industry is important for Vermont’s Workers:
·         Over 21,000 jobs are available from the food industry
·         These jobs contribute over $837 million in wages, an average of $37,200 per employee
·         Another 3,600 people work in firms supplying services in such fields as raw products to packaging to legal to business
·         Another 4,000 workers owe their jobs to a re-spending of the food industry
·         There is an additional benefit via restaurants, bars, hotels and other on-premise food operations 
The Food Industry is important for Vermont’s Taxpayers:
·         The food industry is responsible for about 15% of Vermont’s overall economy
·         The grocery retailing industry and its employees generate $202.85 million in state and local taxes, $166.43 in federal taxes
·         Over $20 million in state taxes are collected on taxable grocery items through retail outlets
·         In total, equaling over 8% of total state and local revenues 
The Food Industry is important to Vermont’s Residents:
·         Nearly 700 food retailers operate in Vermont providing jobs and basic needs for residents 

VGA 12.15.2011
Vermont Grocers’ Association members have significantly focused across Vermont on the importance of buying local ‘ supporting local foods, shopping in Vermont’s communities and ensuring vibrant, locally-based businesses.  
VGA is a statewide trade association representing all sectors of the Vermont food industry as well as the Vermont Alliance of Independent Country Stores.  Approximately 680 stores belong to the organization, including supermarkets, superettes, convenience and country stores along with over 200 suppliers to the industry. VGA also serves as the administrator of the Vermont Specialty Foods Association.