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This is Chris Redgrave for Zions Bank Speaking on Business.
I discovered a most surprising statistic when I met with the folks from the Utah Farm Bureau: Utah's farmers rank No. 1 in the nation for second jobs just to make ends meet.
To give you an idea of the importance of Utah agriculture on the Utah economy, it provides nearly 70,000 jobs and contributes approximately $15 billion in economic activity that accounts for 14 percent of Utah's gross state product. This 30,000-member family is part of the largest farm organization in the world, the American Farm Bureau Federation.
This 94-year-old organization supports and advocates on behalf of the Utah farmers, ranchers and the rural communities to improve the quality of life for all Utahns.
The Utah Farm Bureau takes their advocate work seriously, and it's not uncommon for them to be tracking up to 80 bills affecting Utah's farmers and ranchers in the Utah State Legislature. These involve protecting private property rights and tracking the responsible use and distribution of water, especially since 75 percent of Utah's developed water is used in food and fiber production. Not to mention our growing population in Utah, which has doubled in the last 30 years.
Did you know that only 1.5 percent of American's population is involved with farming and ranching today? That's about 2 million people who are feeding 300 million Americans and are exporting to feed an additional 150 million. It's amazing to hear the numbers condense to one farmer in America feeding about 160 people.
Currently we're experiencing a "positive export exchange" where we export more than we import, creating commerce and jobs. Food processing is a growing business in Utah. It's remained strong throughout the recession, supplying about 15,000 jobs.
Probably one of Utah Farm Bureau's most pressing concerns is to control unnecessary government regulation, which cuts into profit margins for our farmers. America's farmers and ranchers provide us with the most affordable, abundant, and safest food supply in the world. It's essential for us to keep our farms and ranches intact.
For Zions Bank, I'm Chris Redgrave, speaking on business.
