Home 5 Ag Stories Rural Iowa’s Economy Powered by Record Renewable Fuels Production

Rural Iowa’s Economy Powered by Record Renewable Fuels Production

Economic activity flowed throughout Iowa and left a significant impact. According to an economic impact study commissioned by the Iowa Renewable Fuels Association (IRFA), in 2016 the Iowa renewable fuels industry supported more than 42,000 jobs, generated about $2.3 billion in household income, and accounted for roughly $4.7 billion of Iowa GDP.

“The results of the 2017 study clearly show the influence policy consistency and certainty have on industry growth and economic impact,” IRFA Executive Director Monte Shaw said.

Producers for Iowa ethanol and biodiesel set production records in 2016, processing a record amount of Iowa corn, soybean oil, animal fats and other feed-stocks into clean-burning renewable fuels.

“My hope for 2017, with RFS levels set at statutory levels, is we will see more production and increased economic benefit for Iowa,” Shaw said.

John Urbanchuk with ABF Economics authored the study.

SHARE