Indiana agbioscience contributes $69.6 billion to economy

INDIANAPOLIS — Indiana’s agbioscience sector contributes $69.6 billion to the state’s economy, according to a new study from AgriNovus.

“Accelerate 2050: A Vision for Indiana Agbioscience” was conducted by RTI International. It identified the state’s relative economic performance across food, animal health, plant science, agtech and production agriculture.

It also defined priority opportunities to position Indiana’s agbioscience economy for differentiated growth amid future uncertainty.

“Agbioscience is a critical contributor to economic growth and is connected to every person on the planet, given it centers on food,” said Mitch Frazier, president and CEO of AgriNovus Indiana.

“This new research not only defines the present economic strength in Indiana, it creates a framework to measure comparative growth and establishes focus to inspire the next chapter of innovation across food, animal health, plant science, agtech and agriculture.”

Opportunities For Growth

1. Farmer-focused innovation: Development of a multifaceted entrepreneurial support system for Indiana farmers that recognizes their central role in agrifood innovation and implementation.

2. Food is health: Innovation at the intersection of plant, animal, human and environmental health that recognizes food as the nexus to fuel both economic growth and improved health outcomes.

3. Bio-innovation: Establish Indiana as a premier destination for bio-innovators and manufacturers to research, commercialize and scale biotechnology processes, platforms and products.

Other report highlights include:

• Indiana’s agbioscience economy employs 147,075 people.

• Indiana’s agbioscience economy generates $22.7 billion in gross domestic product — a total comparable in size to auto manufacturing or construction, which each generate $22 billion in gross domestic product.

• Indiana maintains a position of global leadership in the following agbioscience platforms: agricultural production, plant science and crop protection and animal health and nutrition.

The full study is available at https://tinyurl.com/yc7cdf2j.