| Iowa Ag Economic Impact Analysis |
Agricultural production: “Agricultural production” is the production of agricultural commodities and foodstuffs, such as corn, soybeans, cattle, hogs, poultry, etc. Traditionally, it has been used somewhat synonymously with “farming.”
Agri-food sector: As used here, the “Agri-food sector” includes individuals and businesses engaged in agricultural production (farming, etc.), agricultural input (fertilizer, ag chemicals, machinery, etc.) manufacturing and delivery, and food processing. This definition does not include food wholesaling, food retailing, or delivery from food processors to wholesalers and retailers.
Jobs: “Jobs” represents an estimate of the number of positions (jobs) currently filled in an area and/or industry. The estimates provided here originate with the databases of the IMPLAN input-output model. “Jobs” counts positions whether they are full-time or part time, so care must be used in making comparisons. “Jobs” does not count positions that are unfilled. All of the jobs in an area are generally referred to as “Total jobs.” Where “Jobs” are preceded by an industry name (such as “Agricultural production” or “Agri-food sector”) the number is an estimate of the number of jobs filled within that industry in the area specified.
Personal income: “Personal income” refers to income from all sources that accrues to individuals as payment for personal employment (earnings or labor income), payment for ownership interests or capital provision (dividends, interest, and rents), or as transfer payments (payments to individuals for which nothing is offered in return).
Total output: “Total output” refers to the total value of all of the output (production) of an area and/or industry. This is a gross number that does not make any deductions for the cost or origination of inputs that were used in the production process.
Total value added: “Total value added” refers to that portion of the value of total output that was actually created by the economic activity in an area and/or industry. Total value added for an area (industry) represents the value of the area’s (industry’s) total output minus the value of any inputs into the production process that were imported from other areas (industries). Value added is a measure of the actual value added to the economic system by the production process. |