Importance of food industry to economy highlighted in report
Published 09/06/2011 | 05:00
ONE-in-seven jobs in Ireland is in the food industry and it has a more positive spin-off for the economy than any other manufacturing sector, a new report has found.
About 300,000 people work in growing, processing and selling Irish food and it is one of the only sources of wealth creation in many rural areas, the UCD report for the Irish Farmers' Association found. Every €100 of farm output generates another €73 in the wider economy through spin-off purchases and spending, creating a total value of €9.25bn a year in the Irish economy, Professor Jim Phelan and Dr John O'Connell, of the UCD School of Agriculture, found.
The report warns cuts to EU subsidies would have a devastating impact on farm incomes.