Corn Refining Industry hits $54.5B output level: Report
In Washington, the Corn Refiners Association released its 2016 Corn Annual: Strengthening the Fabric of Our Nation, showing an industry economic output of $54.5 billion. The report details contributions from the industry to the economy in terms of sales, jobs, salaries, purchases, taxes and charitable contributions.
The vast majority of corn refining facilities are located in the Corn Belt where jobs — particularly good-paying, stable jobs — are important. In the United States, the industry directly employs nearly 8,000 people with salaries and wages close to $1 billion. Further, every job directly supported by the corn refining industry adds an additional 32.6 jobs across the U.S. contributing an additional $12.5 billion in incomes.
“As an embedded partner in the corn value chain, we want to see America’s heartland thrive and depend on it,” says CRA President and CEO John Bode. “Our economic footprint has a very positive impact on our local communities. The commitment to our communities and social good brought by the people of the corn refining industry are what really define this successful relationship.”
Category: Fuels
