WASHINGTON — According to the latest Feeding the Economy report, agriculture and food industries are a huge part of the U.S. economy.

The Feeding the Economy report analyzes the direct and indirect economic contributions of agriculture.

America’s food and agriculture industries generate more than $10.4 trillion in economic value — representing nearly 20% of the overall national economy.

This marks an increase of nearly $894 billion year-over-year, reflecting growth across the agricultural value chain amid ongoing inflation pressures, a challenging farm economy and an uncertain global trade environment.

“Food security doesn’t happen by accident; it depends on a strong, reliable food agricultural system,” said Scott Metzger, president of American Soybean Association.

“The Feeding the Economy study shows how deeply soybeans are woven into that system, supporting more than 102,000 jobs and contributing $85.7 billion in economic activity, even before accounting for the broader value chain.

“That scale matters because it shows the ability of U.S. agriculture to consistently provide food, feed and fuel at home and abroad.”

America’s food and agriculture sector supports 48.7 million jobs across the economy, including nearly 24.3 million direct jobs in farming, manufacturing, processing, distribution, retail and food service.

Direct employment has grown 6.5% over the past decade, though job growth slowed in the past year as parts of the sector faced economic pressures.

By The Numbers

Illinois economic impact:

• 1,985,273 jobs

• $136.6 billion in wages

• $70.2 billion in taxes

• $9.6 billion in exports

• $486.4 billion output

Indiana economic impact:

• 969,853 jobs

• $58.8 billion in wages

• $24.4 billion in taxes

• $2.2 billion in exports

• $229.9 billion output