Despite facing regulatory and marketplace challenges in 2018, the ethanol industry continued to make a “remarkable contribution” to the nation’s economy, according to the latest analysis released last week at the Renewable Fuels Association’s (RFA) 24th annual National Ethanol Conference. The analysis, conducted by ABF Economics on behalf of RFA, found the industry supported nearly 366,000 jobs and generated nearly $46 billion in gross domestic product in 2018.
According to the analysis, the production and use of 16.1 billion gallons of ethanol in 2018:
Supported more than 71,000 direct jobs and almost 295,000 indirect and induced jobs across all sectors of the economy;
Added nearly $25 billion in income for American households;
Generated an estimated $4.8 billion in tax revenue to the Federal Treasury and $4 billion in revenue to state and local governments;
Supported more than 16,200 jobs and $6.3 billion in GDP through exports alone; and
Displaced an amount of gasoline refined from roughly 550 million barrels of imported crude oil
The analysis also estimated the impact of the ethanol industry on the state economy in top ethanol-producing states. Iowa, Nebraska, and Illinois were the top three states in terms of economic impacts, but states like Ohio, Kansas, Michigan, Texas, Missouri, California, and New York also benefited from ethanol plants’ contributions.
Last week’s National Ethanol Conference featured many speakers and sessions on the current state of the ethanol industry as well as the potential opportunities for future growth. Photos, audio and video from the conference can be found here:
National Ethanol Conference Virtual Newsroom