The Economic Depths of the Drought

It’s been hard to escape news that the drought has devastated the farming and ranching community. And recent reports have translated the damage to an increase in food prices. But for states like Kansas, where agriculture has been and remains the backbone of the economy, the drought will cause far great economic cracks. A new article from the Wichita Business Journal illustrates not only the impact of the drought but just how many businesses are directly and in-directly related to the agriculture and food industry.

The economic figures are compliments Creighton University’s Mid-State’s Economic Outlook – click here to view the entire report – and show just how important farming is to the country’s mid-section and the overall Midwest economy. Without farming, many businesses would not exist and when farming and ranching suffers, so do hundreds of other companies and industries. It’s another reason passing a farm bill – with revenue-based federal crop insurance – is vital to the success not only of individual farmers but to entire state and regional economies. Without farming we would not have food, fuel, fiber – AND jobs.

Click here to read the report issued by the Wichita Business Journal.


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