Canadian economy hopped up on beer: Report

Two patrons clink their beer mugs together. (Fotolia.com)

Two patrons clink their beer mugs together. (Fotolia.com)

QMI Agency

, Last Updated: 4:51 PM ET

Go ahead, have another beer. You're helping the economy.

A new Conference Board of Canada report says every dollar Canadians spend on beer generates $1.12 in the Canadian economy.

There are 163,200 beer-related jobs in Canada, about 1% of the job market, but the report From Farm to Glass points out the beer industry also stretches out to other markets, including farming and waste collection.

Beer consumption generates $5.8 billion in annual tax revenues for all levels of government, the report said.

For every dollar spent, 44 cents goes to government in the form of personal income taxes, corporate income taxes and taxes on products.

"As brewers continue to innovate and beer drinkers explore, beer will continue to be a steady economic driver in Canada," Luke Harford, president of the industry marketing group Beer Canada, said in a release about the report.


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