Congratulations, because of you $24.8 billion was added to Michigan’s economy in 2014. You also helped support 198,000 jobs directly and, indirectly, another 75,000. How? Well, by the simple act of buying groceries.
The $24.8 billion represents the gross total the food industry contributed our state’s economy that year and takes into account direct sales, retailers’ linkages to other industries, and the spending of its employees’ households. This represents a net $15.4 billion in total value added to the economy.
That’s how much the food industry helps Michigan and why Gov. Snyder declared September 26-30 Food Retailers Week.
“The food retailer industry is comprised of grocers, specialty food markets, convenience stores and pharmacies along with many other business providing access to food at retail in their communities … and business in the food retail industry contribute nearly $900 million in state and local taxes and local governments,” the governor says in the proclamation.
The proclamation is wholeheartedly supported by the Associated Food and Petroleum Dealers (AFPD), which represent retailers in states in Michigan, Illinois, Ohio and other Midwest states.
“Food retailers of all shapes and sizes contribute significantly to Michigan’s economic well-being and we are excited that Governor Snyder is recognizing that by declaring the last week of September Food Retailers Week,” says Auday Arabo, president and CEO of the AFPD. “Not only do our food retailers play a substantial economic role, they also provide convenient access to an essential necessity — quality food — and I think that is a pretty important point that gets easily taken for granted.”
This is a chance to put a spotlight on a common, reliable, and usually steady, albeit often overlooked, part of the economy. It is time to give grocers, specialty food stores, convenience stores, and pharmacies their due appreciation.
– Photo credit: Paul Engstrom