A new industry report released today shows how the Renewable Fuel Standard (RFS) is creating jobs and significant economic impact.
The Fuels America coalition released an economic impact study by John Dunham & Associates showing that the industry supports more than 850,000 American jobs and drives $184.5 billion of economic output.
Renewable fuels now represent nearly 10% of America’s fuel supply and have helped reduce U.S. reliance on foreign oil to the lowest level in years. The analysis takes into account the entire supply chain for renewable fuels and quantifies the impact to the U.S. economy, including:
• Driving $184.5 billion of economic output
• Supporting 852,056 jobs and $46.2 billion in wages
• Generating $14.5 billion in tax revenue each year
The full analysis is publicly available on the Fuels America website, including localized reports for every state and every congressional district in the country.
Fuels America held a telephone press conference introducing the report results featuring comments from Jon Doggett, National Corn Growers Association public policy; Adam Monroe, Novozymes; Larry Ward, POET; and John Dunham, report author.
Listen to or download here: Fuels America new economic report