Despite Federal Policy Challenges, Renewable Fuels Impact on Iowa Remains Strong

The Iowa Renewable Fuels Association (IRFA) recently released a study conducted by ABF Economics economist John Urbanchuk highlighting the impact of the renewable fuels industry on Iowa’s economy at the 9th Annual Iowa Renewable Fuels Summit and Trade Showhttp://images.tmcnet.com/tmc/misc/articles/Image/2012/renewfuel.jpg

 “2014 was a record-breaking year for the renewable fuels industry despite significant challenges and Iowa participated in the growth,” stated Urbanchuk.  “Ethanol and biodiesel producers are part of a manufacturing sector that adds substantial value to agricultural commodities produced in Iowa.  The first and second-generation feedstocks used to produce renewable fuels are produced primarily by Iowa farmers, and the R&D expenditures for renewable fuels provide important support for Iowa’s universities. Combined, these activities make a significant contribution to the Iowa economy.”

Based on the size and scope year-end, the renewable fuels industry had the following impacts on Iowa’s economy in 2014:

  • Accounts for more than $4.9 billion, or about 3.5 percent, of Iowa GDP;
  • Generates $2.5 billion of income for Iowa households; and
  • Supports more than 46,700 jobs throughout the entire economy.

To view the full report, please click here.

To view a fact sheet on the report, please click here.

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