| Economic Impact of
Georgia's Tobacco Industry - 1997 | |||||
TOBACCO PRODUCTION SECTOR |
AVG ANNUAL EMPLOYMENT |
ANNUAL COMPENSATION | |||
| Tobacco Growers | 7,163 | $50,478,904 | |||
| Tobacco warehousing /distribution | 670 | $9,870,850 | |||
| Manufacturing | 2,233 | $98,808,461 | |||
| Wholesale trade | 2,950 | $132,648,385 | |||
| Retail trade | 5,027 | $91,838,462 | |||
| Supplier | 8,235 | $217,045,800 | |||
| TOTAL PRODUCTION AND SUPPLIER SECTORS | 26,278 |
$600,690,861 | |||
| TOBACCO EXPENDITURE-INDUCED SECTOR (agriculture, mining and construction, transportation, finance, manufacturing, wholesale and retail trade, communication, utilities, insurance, real estate, business and personal services, and government) | AVG ANNUAL EMPLOYMENT25,720 |
ANNUALCOMPENSATION$887,117,370 | |||
GRAND TOTAL CORE, SUPPLIER & EXPENDITURE-INDUCED SECTORS | |||||
|
TOTAL ECONOMIC IMPACT |
AVERAGE ANNUAL EMPLOYMENT |
ANNUAL COMPENSATION | |||
51,998 |
$1,487,808,231 | ||||
| TAXES PAID BY PRODUCTION AND SUPPLIER SECTOR | FEDERAL | STATE AND LOCAL | |||
| Tobacco Excise/Sales Taxes | $185,201,302 | $127,240,806 | |||
| Personal Income Taxes | $82,640,342 | $21,998,305 | |||
| FICA | $81,983,071 | -- | |||
| Corporation Taxes | $64,698,384 | $6,645,900 | |||
| TOTAL PRODUCTION AND SUPPLIER TAXES | $414,523,099 |
$155,885,011 | |||
| TAXES PAID BY EXPENDITURE-INDUCED SECTOR (firms and employees) | FEDERAL | STATE AND LOCAL | |||
| Personal Income Taxes | $136,824,573 | $29,048,939 | |||
| Corporation Taxes | $42,557,409 | $4,328,320 | |||
| FICA | $99,977,409 | -- | |||
| General Sales & Use Taxes | -- | $33,779,397 | |||
| TOTAL EXPENDITURE-INDUCED SECTOR TAXES | $279,359,391 | $67,156,656 | |||
GRAND TOTAL CORE, SUPPLIER & EXPENDITURE-INDUCED SECTORS | |||||
TOTAL TAXES PAID |
FEDERAL |
STATE AND LOCAL | |||
$693,882,490 |
$223,041,667 | ||||
| Source: American Economics Group, Inc., 1998 | |||||
| Georgia Tobacco Facts | |||||
| Georgia is the 3rd largest flue-cured tobacco producing state. | |||||
| Tobacco is the 4th largest income producing row crop in Georgia. | |||||
| Over 50% of Georgia produced tobacco is exported. | |||||
| 51,998 jobs were created by tobacco production, manufacturing and sales in Georgia in 1997 with an annual compensation of over $1.48 billion. | |||||
| The Georgia tobacco industry created over $917 million in tax revenues (all types) in 1997. | |||||
| Source: American Economics Group, Inc., 1998 | |||||
| 1998 | - Tobacco Farms | 2,599 | |||
| - Tobacco Counties | 47 | ||||
| - Average Yield | 2,100 lbs/A | ||||
| - Leaf Sales | 90,240,924 lbs | ||||
| - Value | $1.71 per lb. | $154,128,401 | |||
| - Effective Quota | 93,710,106 lbs | ||||
| - Effective Allotment | 42,717 Acres | ||||
| - Planted Acreage | 42,000 Acres | ||||
| 1999 | - Effective Quota | 74,001,309 lbs | |||
| - Effective Allotment | 33,802 Acres | ||||
| - Planted Acreage | 33,000 Acres | ||||
| 1996 | - GA Cigarette Excise Tax | $0.12/pack | $87,808,000 | ||
| - Federal Cig. Excise Tax | $0.24/pack | $175,600,000 | |||
| Tobacco has the highest farm value per acre of all field crops produced in Georgia in 1998. | |||||
| (Tobacco $3,591, Peanuts $1,125, Cotton $800, Corn $493, Soybeans $240, Hay $190, Wheat $276) AGECON94-010-S-Revised, November 1998. | |||||
| $13.1 billion --- or $51.00 per man, woman and child in the United States was collected in federal, state and municipal excise taxes on cigarettes for the fiscal year ending June 30, 1995, --- four times more revenue than the farmer receives. | |||||
| Over $46,000 in state and federal excise taxes are generated at the retail level for every acre of tobacco grown in the United States for domestic consumption. | |||||
| $1.3 million was generated on Georgia Tobacco sales by Budget Reconciliation Assessments in 1995. | |||||
| Revised 8/4/99 | |||||