Missouri’s four ethanol plants have created a significant impact on the state’s economy, according to a new study just completed by the University of Missouri-Columbia. The study, which was funded by the Missouri Corn Growers Association,used the sophisticated input-output statistical model called IMPLAN to determine the economic impact of the ethanol industry in Missouri. Basically, they found that:
4 ethanol plants = $92,359,577 in labor income with a total of 2,784 jobs
+ $177,740,334 in value added dollars
+ $390,198,411 in net total output dollars – that is, the estimated amount that ethanol contributes to Missouri’s economy
So, that’s pretty impressive. And with more plants due to come on-line soon, the impact will be even greater, according to a statement from MCGA president Terry Hilgedick. “According to this study, when Missouri ethanol production reaches 350 million gallons, just the day-to-day operations will result in the creation of 5,613 jobs, $63 million in tax revenues and a total net increase of $726 million to Missouri’s economy each and every year. This is value-added agriculture at its best.”
Here is a link to the MCGA release, and a link to the MU Commercial Ag Program page where you can find the study in PDF format.