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Investor Presentaiton

Table 6 - Economic Impact of Agribusiness on South Carolina: Forestry Component Labor Income Economic Output Employment Direct Effect 48,255 $2,922,888,463 $14,769,889,934 Indirect Effect 31,418 Induced Effect 20,460 Total Impact 100,133 $1,758,984,763 $897,034,155 $5,578,907,381 $5,526,752,954 $2,928,093,541 $23,224,736,429 Each year, as Table 5 denotes, the agriculture component of South Carolina's agribusiness cluster generates a total statewide economic impact of approximately $28.6 billion. This is associated with roughly 159,082 jobs and over $6.7 billion in labor income. The approximately $17.4 billion in direct economic output leads to an additional $11.2 billion through the economic multiplier effect. Table 5 also highlights the multiplier effects associated with all labor income and employment impacts. The $11.2 billion in additional economic output associated with all indirect and induced effects is estimated to generate 61,950 additional jobs in South Carolina to fill the increased demand for industry related local suppliers and for increased household spending, which also supports an additional $3.1 billion in labor income. In a similar fashion, Table 6 breaks down the direct, indirect, and induced effects of the forestry component of South Carolina's agribusiness cluster. The total statewide impact of this forestry component is $23.2 billion annually. Approximately $14.8 billion in direct economic output generates an additional $8.4 billion in economic output via the economic multiplier effect. This $8.4 billion, in turn, supports approximately 51,878 additional jobs and $2.6 billion in labor income. In sum, the $23.2 billion impact generated by the forestry component supports 100,133 South Carolina jobs and nearly $5.6 billion in annual labor income. SCDA 1879 GRICULTURE PAGE 13
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