Contribution of the Renewable Fuels Industry to the Economy of Iowa
A recent study by ABF Economics Economist John Urbanchuk highlighted the impact of the renewable fuels industry on Iowa’s economy. Based on the size and scope of the renewable fuels industry at year-end 2019, biofuels:
- Account for more than $5.0 billion, or about 3%, of Iowa GDP;
- Generate over $2.4 billion of income for Iowa households; and
- Support more than 48,000 jobs through the entire Iowa economy.
Ethanol* $7,286 $4,532 $2,186 44,421 Biodiesel $844 $489 $263 3,875 Total $8,130 $5,021 $2,449 48,296
*Includes agriculture, investment in R&D, and exports
To view the full study, please click here.
Contribution of the Ethanol Industry to the Economy of the United States.
A recent study by Economist John Urbanchuck of ABF Economics prepared for the Renewable Fuels Association (RFA) showed the ethanol industry had immense impacts on the economy of the United States in 2019.
Key findings of the study show the ethanol industry:
- Supports 68,684 direct jobs;
- 280,327 indirect and induced jobs;
- Contributes nearly $43 billion to U.S. GDP;
- Generates over $23 billion in household income;
- Displaces 540 million barrels of crude oil, valued at nearly $32 billion;
To view the entire study, please click here.