Agriculture continues to be one of the main economic drivers in Illinois. As the price of grain drops and farmers see a lower return on their crops, the economy as a whole starts to suffer. State Representative Dan Swanson says this is why big agriculture companies have had to lay off employees.
“When the money’s not in the ag industry, the whole nation suffers. We see that in many businesses right now, whether it’s John Deere or Case IH, or those who support those businesses and others, it’s going to have a great detrimental effect on Illinois and the economy within Illinois,” says Swanson. “The farmers- the 1 percent- are the largest industry in Illinois, and as it’s suffering and drawing down, it’s going to affect the income taxes. It’s going to affect a lot of different prices and taxes within the state of Illinois.”
There are around 1.9 million jobs in Illinois in the agriculture industry. According to the Illinois Department of Agriculture, agricultural products generate more than $51.1 billion annually with 40 percent of that total coming from crop production.
