The new “Comprehensive Review of Iowa’s Dairy Industry” defines how important the Iowa dairy industry continues to be and just how strong and economic driver it is in Iowa and the Midwest. The projected national trends for dairy products show increases in profitability and forecasters expect that dairy revenue will continue to rise at 1.15% to $39.9 billion during 2019-24 (IBIS World Dairy Production 2019).
Iowa continues to be a signiﬁcant contributor to dairy production based upon several factors that include necessary infrastructure, natural resources, inputs and experience. The state has a unique competitive advantage in these categories and continues to expand on these assets for identiﬁed growth opportunities.
The economic impact realized by the state from the dairy industry projects the following: Key metrics include total economic impact of Iowa’s dairy industry is $5.6 billion, supplying 15,587 jobs with a labor income of $891 million. Annual economic impact of a single dairy cow is $25,495 per cow.
The complete can be found here.