ARLINGTON, Va. — A new study released today by the Consumer Brands Association reveals the unparalleled economic impact of the consumer packaged goods (CPG) industry in New York. Conducted by PwC, the research highlights the CPG sector as a major manufacturing employer in the Empire State. The industry supports nearly one million jobs in the state, which is the equivalent of filling Madison Square Garden almost 50 times, and contributes $139 billion to the state’s economy, which is enough money to build 38 Yankee Stadiums.

“From bustling supermarket aisles to the corner bodegas that define New York City’s neighborhoods, the CPG industry’s footprint is not just visible — it’s integral to the very fabric of daily life in New York,” said John Hewitt, senior vice president of state affairs at Consumer Brands. “Our industry takes immense pride in not only providing the essential goods that 20 million New Yorkers rely on every day but also serving as a vital force in the Empire State’s powerful economy, contributing billions in GDP and supporting hundreds of thousands of jobs across the state.”

The comprehensive study, analyzing employment, labor and economic data from 2022, uncovers the far-reaching influence of the CPG industry in the Empire State:

• Employment Powerhouse: Directly and indirectly supports more than 987,000 jobs, accounting for 7.7% of New York’s total employment.
• Income Generator: Contributes more than $80 billion in labor income, fueling local economies and supporting families statewide.
• Economic Catalyst: Generates $139 billion in GDP, or 6.8% of New York’s economy.

The CPG industry’s footprint in New York stretches far beyond manufacturing. This sector encompasses:

• Agricultural Partnerships: New York’s CPG companies work closely with New York’s farmers, supporting the state’s $3.3 billion agricultural industry.
• Logistics Powerhouse: With the Port of New York and New Jersey – one of the top 10 largest ports in the U.S. – the CPG industry significantly contributes to New York’s transportation and warehousing sectors, ensuring products reach consumers efficiently.
• Retail Ecosystem: From small, local grocers to major chains, the CPG industry supports a vast network of retailers, contributing to community vitality across urban and rural areas alike.

“The CPG industry is so much more than manufacturing alone,” continued Hewitt. “It is an interconnected network of many important sectors, which reinforces the significance of our vast economic footprint. The findings in this report also reinforce the need for state and federal policies that facilitate job creation, spur innovation and build consumer trust.”

Read the full report HERE.

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ABOUT THE CONSUMER BRANDS ASSOCIATION

The Consumer Brands Association champions the industry that makes the products you choose and the brands you trust. From household and personal care to food and beverage products, the consumer packaged goods industry plays a vital role in powering the U.S. economy, contributing $2.5 trillion to U.S. GDP and supporting 22.3 million American jobs.