Renewable Fuels Impact on the Iowa Economy

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