Among the benefits of ethanol production in 2014 according to the study by ABF Economics:
• $52.7 billion to America’s gross domestic product
• 83,949 direct jobs
• 295,265 indirect and induced jobs
• $10.3 billion in federal, state and local taxes
• Displaced 515 million barrels of oil, the equivalent of $49 billion
John Urbanchuk, author of the study and managing partner of ABF Economics, concluded his analysis by noting, “The ethanol industry continues to make a significant contribution to the economy in terms of job creation, generation of tax revenue, and displacement of imported crude oil and petroleum products. The importance of the ethanol industry to agriculture and rural economies is particularly notable. Continued growth and expansion of the ethanol industry through new technologies and feedstocks will enhance the industry’s position as the original creator of green jobs, and will enable America to make further strides toward energy independence.”
The full study, prepared on behalf of the Renewable Fuels Association, can be found here.