Study: Ethanol industry added $52.7 billion to national GDP in 2014
February 27, 2015
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A new study from ABF Economics on behalf of the Renewable Fuels Association (RFA) concluded that the ethanol industry added $52.7 billion to the national Gross Domestic Prodcut (GDP) in 2014.
Other findings from the study include:
- Ethanol is responsible for 83,949 direct jobs and 295,265 indirect and induced jobs
- Ethanol added $26.7 billion to household income
- Ethanol generated $10.3 billion in federal, state and local taxes
- Ethanol displaced 515 million barrels of oil worth $49 billion
“The importance of the ethanol industry to agriculture and rural economies is particularly notable,” said John Urbanchuk, author of the study and managing partner of ABF Economics. “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 can be viewed here.
