Minnesota Bio-Fuels Association has just released a new study by the University of Minnesota Extension shows the ethanol industry contributed $2.5 billion to Minnesota’s gross domestic product (GDP) in 2023.
According to the study, the industry produced 1.35 billion gallons of ethanol in 2023, resulting in $6.6 billion in economic activity and supported 20,914 jobs. The industry also generated $1.3 billion in income for Minnesota residents and paid $182.9 million in state and local taxes last year.
In 2023, the industry also produced 3.99 million tons of dried distillers grains with solubles (DDGS) and 426 million pounds of corn oil, which is used to produce biodiesel and renewable diesel.