The United Soybean Board (USB) has released a new report detailing the significant economic impact of its investments on U.S. soybean farmers. According to the study conducted by Dr. Harry M. Kaiser of Cornell University, USB initiatives have yielded a positive return on investment of at least 4.5-to-1, with every dollar invested returning an impressive $12.30 in net revenue [94909649].
The report highlights that USB's efforts supported nearly 31,000 jobs and contributed $2.6 billion in labor income. Overall, USB's investments added a staggering $5.9 billion in total value to the economy and increased U.S. GDP by $9.8 billion [94909649].
Particularly noteworthy are the findings related to market development. The export market development initiatives had a benefit-cost ratio (BCR) of 14.26-to-1, while domestic demand-enhancing research achieved an astounding BCR of 42.88-to-1. These figures underscore the effectiveness of USB's strategic focus on both domestic and international markets [94909649].
USB's CEO, Lucas Lentsch, emphasized the importance of ongoing investments in research and market development to ensure continued growth and success for U.S. soybean farmers. The findings of this report not only reflect the current economic benefits but also set the stage for future initiatives aimed at enhancing the competitiveness of U.S. soybeans in the global market [94909649].