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 4.5 billion gallons of ethanol and 349 million gallons of biodiesel in 2022, 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.
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*Includes agriculture, investment in R&D, and exports