The Renewable Fuels Association unveiled a new study this week at the National Ethanol Conference in Orlando, Fla., examining the impact of the ethanol industry on job creation, the economy, household income and foreign oil displacement in 2013.
The commissioned study found that the 13.3 billion gallons of ethanol produced created 86,503 jobs and sustained an additional 300,277 indirect and induced jobs. At the national level, research determined that the ethanol industry contributed $44 billion to America's Gross Domestic Product while adding $30.7 billion to household incomes.
Additionally, the 13.3 billion gallons of ethanol displaced 476 million barrels of imported oil, saving Americans $48.2 billion in oil imports.
"The ethanol industry continues to make a significant contribution to the economy in terms of job creation, generation of tax revenue, and displacement of imported crude oil," commented John Urbanchuk, managing partner of study conductor ABF Economics.
"The use of ethanol also continues to enhance the nation's energy independence. The dollars spent on domestically produced ethanol instead of imported crude oil and petroleum products is money that is spent and reinvested in the American economy," he said.
Key findings of the report:
• 86,503 direct jobs
• 300,277 indirect and induced jobs
• $44 billion contribution to GDP
• $30.7 billion in household income
• 476 million barrels of imported oil displaced, valued at $48.2 billion in 2013
• $8.3 billion paid in federal, state and local taxes
Download the study, "Contribution of the Ethanol Industry to the Economy of the United States."
The Outlook offers a comprehensive look at the ethanol industry and is accompanied by the popular Pocket Guide to Ethanol, which presents a succinct industry overview. These publications delve into the Renewable Fuel Standard, investment and innovation in next generation biofuels, expansion of higher level ethanol blends, development of a global marketplace, food vs. fuel discussion, and an updated map of bio refineries across America.
Bob Dinneen, president and CEO of the Renewable Fuels Association, said the outlook document and pocket guide "are easy to understand resources that help explain the unique facets of this vital industry and underline the imminent need to protect the RFS."