The Iowa Power Fund released a report today that details the economic impact of 31 projects from 2008 through September 2010. Each of the projects has received monetary funds from the program. One project that has received funding from the Iowa Power Fund is Project LIBERTY, POET’s project to develop cellulosic ethanol from corn cobs and light corn stover. The report estimates that Project Liberty could generate as much as $37.8 billion in economic activity over 20 years and could employ more than 2,800 people.
The report was conducted by Impact DataSource of Austin, Texas and estimates the short and long-term effects of these projects on the state of Iowa and on the nation. The scope of the report included the economic output, employment and workers’ earnings during the term of the project and possible economic impacts resulting directly from the project.
The analysis of Project LIBERTY in particular included three scenarios of low, medium and high long-term impacts from the project and replication of the technology at other Iowa ethanol plants.
“Project LIBERTY will not only employ people at the plant, it will add revenue to farmers’ incomes through biomass harvesting and add local jobs through increased economic activity,” Project LIBERTY Director Jim Sturdevant said. “When that technology is replicated at other plants in Iowa, those benefits will increase many times over.”
The Iowa Power Fund released the full report at a press conference in Des Moines, Iowa Thursday and you can click here to download a full copy of the report.