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News & Press: Industry News

NY grape, wine industry worth $4.8B, report says

Thursday, February 20, 2014   (0 Comments)
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NY grape, wine industry worth $4.8B, report says

 

Source: Democrat & Chronicle

February 20, 2014

 

A new report based on 2012 data shows that New York's grape and wine industry contributes $4.8 billion to the state's economy, an increase of 27 percent over a similar survey four years earlier.

 

The impact is broad, according to the trade and marketing association affiliated with the industry.

 

"Wine is the ultimate value-added product with huge economic multiplier effects for many affiliated industries like farm equipment, tank and barrel manufacturers, packaging, transportation, tourism, and much more," said Jim Trezise, president of the New York Wine & Grape Foundation, in a newsletter announcing the findings. "The state of New York, especially in recent years, has been a great partner with our industry, and clearly their investment is paying off in spades."

 

Trezise said that because of the industry's burgeoning growth in 2013, the report's figures should be considered conservative. The report was prepared by Stonebridge Research Group of Napa Valley for the foundation.

 

The report also said the industry supports the equivalent of nearly 25,000 full-time jobs, pays $408.2 million in taxes, and generates 5.29 million wine-related tourism visits.