New study shows biofuels accounts for nearly 3% of Iowa’s GDP

March 20, 2019 |

In Iowa, a new study by ABF Economics and commissioned by IRFA shows biofuels create 48,000 Iowa jobs more than $2.5 billion in Iowa household income and that found that biofuels account for over $5 billion of Iowa’s GDP, or roughly three percent.

While the study found the ‘importance of the biofuels industry to agriculture and rural economies is particularly notable,’ the report also found that ‘policy stability is essential to maximize these benefits. Uncertainty surrounding issues like SREs, tax credit extensions, trade with China, year-around E15 sales, and the RFS reset will impede the ability of the industry to provide these societal benefits.’

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Category: Fuels

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