March 29, 2024

Indiana’s agbioscience economy shows record growth

AgriNovus releases study findings

INDIANAPOLIS — Indiana’s agbioscience sector directly contributes more than $58 billion to Indiana’s economy — an increase of more than $6 billion since 2018, according to research from AgriNovus.

Agbioscience employment in Indiana grew 7.5% from 2018 to 2021 and average wages of agbioscience jobs, excluding farm proprietors, topped $69,000 — a total that is more than 3% higher than the average 2021 private-sector wage in the state.

Other highlights of the study showed that from 2018 to 2021:

• Value-added food and nutrition — increased 2% during the period and remains the largest component of the state’s agbioscience economy with $29.9 billion in output.

• Animal health and nutrition — increased 27.3% to $5.5 billion, making it the fastest-growing innovation-based platform of Indiana’s agbioscience economy over the last decade.

• Agricultural equipment, technologies and systems — increased 16.8% to $2.2 billion, maintaining upward momentum as the second-fastest growing platform since 2012.

• Plant science and crop protection — increased 7.2% to $3.3 billion and posted positive growth for the first time since 2012.

The study was conducted by TEConomy Partners. Read the complete report at www.agrinovusindiana.com/research.

Erica Quinlan

Erica Quinlan

Field Editor