IDFA continues to demonstrate that the dairy industry has a powerful economic impact – $628 billion in total – on the American economy.
Did you know that dairy also indirectly supports a broad range of industries across the nation, like accounting, tax preparation and payroll services? Now that it’s tax season, companies across the country are relying on accounting, tax preparation, bookkeeping and payroll services to help them with federal, state and local filings. These firms and professionals are essential to the smooth operations of dairy businesses across the country, not only for keeping their books straight but for making sure that their staffs, suppliers and, of course, federal and state governments are properly paid.
The dairy industry directly supports more than 12,790 jobs in these essential industries throughout the country. Another 7,650 of these jobs depend on spending by dairy industry employees or those of their suppliers for help in preparing their taxes or administering their household finances.
All told, the dairy industry creates nearly $1.5 billion in wages and $1.8 billion in economic impact for American accounting, tax preparation and payroll firms.
IDFA is sharing these deep dives into the data of Dairy Delivers®, its economic impact tool, to demonstrate dairy’s economic power and its ripple effect on other American industries.
Members with questions may contact Dave Carlin, IDFA senior vice president of legislative affairs and economic policy, at email@example.com.