Study: Florida Citrus Valued At More Than $10 Billion
December 17, 2014 A study released revealed the Florida citrus industry was valued at $10.7 billion and employed more than 62,000 people in 2012-2013.
Presented at a recent meeting of the Florida Citrus Commission, the study updated a 2007-2008 report examining the economic impact of Florida’s largest agricultural crop on the state’s economy.
That study placed the value of the industry at nearly $9 billion, which, when adjusted for inflation, is equal to $10.8 billion in 2012-2013, according to Dr. Alan Hodges, a UF/IFAS Extension scientist and lead author of the study.
Despite a decrease in overall production since the 2007-2008 season, the value of the Florida citrus industry changed little, with a decrease in revenue of less than 1%.
“Grove and processing plant owners and employees turn around and spend that money in the local economy and it has a multiplier effect,” Hodges said. “More than $10 billion in sales in all sectors of the Florida economy can be somehow attributed to the Florida citrus industry. That includes about $5.3 billion in value added or contributions to the gross domestic product of the state of Florida.”
The study also confirmed other economic impacts citrus greening, or HLB, has had on the industry. HLB has caused a cumulative loss of more than $2.9 billion in grower revenues between 2006-2007 and 2013-2014. This resulted in an average annual loss of more than 7,500 jobs and $975 million in industry output.
“The impressive scale of the Florida citrus industry indicates that even in tough times, Florida’s signature crop continues to be relevant to all Floridians,” said Doug Ackerman, executive director of the Florida Department of Citrus.
Key Takeaways From 2012-2013 Report:
- Total industry revenues: $4.848 billion
- Total full-time and part-time jobs: 62,313
- Value added to state of Florida (GDP): $5.325 billion
- Total industry output: $10.683 billion
- Total state and local tax impacts: $326 million
- Total federal tax impacts: $686 million
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