Contribution of the Renewable Fuels Industry to the Economy of Iowa
By John Urbanchuk, Managing Partner, ABF Economics
February 2, 2023
Prepared for the Iowa Renewable Fuels Association
Producing a record 4.6 billion gallons of ethanol and 349 million gallons of biodiesel in 2023, Iowa continues to be the nation’s leader in biofuels production and biofuels continue to have a significant impact on Iowa’s economy.
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Biofuels Positive Impact on Iowa Economy Remains Strong
Based on its size and scope, in 2022 the renewable fuels industry had the following impacts on Iowa’s economy:
- Accounted for nearly 7.2 billion of Iowa GDP;
- Generated $3.5 billion of income for Iowa households; and
- Supported more than 57,000 jobs through the entire Iowa economy.
| GDP | Income | Employment | |
| (Mil 2022$) | (Mil 2022$) | (Jobs) | |
| Ethanol* | $6,129 | $3,024 | 50,007 |
| Biodiesel | $1,022 | $506 | 7,278 |
| Total | $7,151 | $3,531 | 57,285 |
*Includes agriculture, investment in R&D, and exports