June 18, 2012
Special 10th Anniversary Edition
Governor Branstad Declares June 15 as ‘Iowa Ethanol Day’
IRFA Kicks-Off 10th Anniversary Celebration by Releasing New Decade Long Economic Impact Study
In recognition of the Iowa Renewable Fuels Association’s (IRFA) 10th Anniversary and the 34th anniversary of the commercialization of E10, Iowa Governor Terry Branstad declared June 15 as ‘Iowa Ethanol Day’.
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Gov. Branstad (seated) signs proclamation to the applause of Lt. Gov. Reynolds, IRFA Board Members, and IRFA Staff (behind) |
Along with Gov. Branstad’s proclamation of ‘Iowa Ethanol Day,’ the IRFA also released the results of a new study detailing the positive impacts of renewable fuels on Iowa’s economy over the last decade. Economist John Urbanchuk, Technical Director for Environmental Economics with Cardno ENTRIX, found the “renewable fuels industry has grown spectacularly over the past decade and Iowa has been a major participant and beneficiary.”
“The last decade really has been one of progress and prosperity for renewable fuels and rural Iowa,” stated IRFA Executive Director Monte Shaw. “The new IRFA study highlights the profound impact ethanol and biodiesel production have on Iowa jobs, Iowa income, and Iowa wealth creation. Clearly, Iowa’s economy would be in a much different place if ethanol and biodiesel production were still at 2002 levels.”
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Gov. Branstad (right) addresses media alongside IRFA President Brad Albin (left) |
Urbanchuk’s key findings include:
- Over the last decade in Iowa, ethanol production has increased 741%, while biodiesel production has increased an astounding 1,600%;
- The portion of Iowa’s agricultural economic output attributable to the renewable fuels industry increased from 4.6% in 2002 to more than 37% in 2011;
- The price of farm land in Iowa has tripled over the past decade with the average price for all grades of cropland increasing from $2,083 per acre in 2002 to $6,708 in 2011.
- In 2002 the renewable fuels industry was a negligible component of Iowa’s manufacturing sector. By 2011, ethanol and biodiesel production accounted for nearly 7% of manufacturing sector output;
- The total number of jobs in the entire Iowa economy supported by the renewable fuels industry has grown from about 3,500 full-time equivalent jobs in 2002 to more than 79,000 in 2011, an increase of more than 2,000%. By 2011, the renewable fuels industry directly or indirectly supported 5.4% of Iowa employment;
- The renewable fuels industry has added $12.9 billion of income to the pockets of Iowans over the past decade; and,
- The renewable fuels industry has generated $1.8 billion of tax revenue for Iowa over the past decade.
To read Urbanchuk’s entire study click here.
To view Gov. Branstad’s proclamation click here.
To see a video of Gov. Branstad declaring June 15 “Iowa Ethanol Day” click here.
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