There has been a recent study by Auburn University on the economic impact in the tri-State area of Alabama, Georgia, and Florida, showing that the peanut industry there exceeds $1.3 billion and the employment associated with economic activity related to the peanut industry exceeds 16,000 jobs. This has been based on the way that the Base Closure Commission did their calculations, the effect not just on peanut farmers, but what effect it has on other dealers and communities--the COBRA effect that was set up under the base closures. Going with the Santorum type of amendment would really mean the end of the peanut program. You would eliminate 37,500 jobs, with $350 million in lost farm revenue, $50 million in lost exports, a $750 million drop in land values, and a $25 million loss in tax revenues. That is just in those three States referenced in the study. It does not take into account other peanut-producing regions. The conclusion is that changes made in the order proposed by Senator Santorum will have a tremendous negative economic effect.
Editor's note · Context
Discussing the economic impact of the peanut industry in Alabama, Georgia, and Florida.
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