FOR IMMEDIATE RELEASE                                                 

Press Contact: Monte Shaw

January 24, 2012

515-252-6249

Study: Renewable Fuels Power

Iowa Economy Through Recession

State of Renewable Fuels Industry is Revived and Ready

JOHNSTON, IA – At its 6th Annual Iowa Renewable Fuels Summit today, the Iowa Renewable Fuels Association (IRFA) released a new study detailing the strong impact of renewable fuels production on Iowa’s economy.

“Tonight the President will report on the state of the union, but this morning I can assure you that the Iowa renewable fuels industry is revived and ready,” IRFA Executive Director Monte Shaw told the large crowd.  “While not being insensitive to our friends and neighbors who are looking for work, we should celebrate the success of renewable fuels and the profoundly positive impact that success has had on Iowa’s economy and rural communities.  No one should question that Iowa has done better than many other states during this long recession. And the reason for that is our strong agricultural economy with renewable fuels playing a leading role.”

According to the report, “Importance of the Renewable Fuels Industry to the Economy of Iowa,” at year-end 2011 production levels, ethanol and biodiesel production:

• Accounts for nearly $6 billion, or 4 percent, of Iowa GDP;
• Generates $3.7 billion of income for Iowa households; and
• Supports more than 82,000 jobs through the entire Iowa economy.

“2011 was a revival year for renewable fuels. Both the ethanol and biodiesel industries experienced continued growth in 2011 despite high feedstock and input prices,” said economist John Urbanchuk, technical director of Cardno ENTRIX.  “Ethanol and biodiesel producers are part of a manufacturing sector that adds substantial value to agricultural commodities produced in Iowa and makes a significant contribution to the Iowa economy.”

The complete study can be found online at:  www.IowaRFA.org/documents/2012IowaEconomicImpact.pdf

Iowa is the leader in renewable fuels production.  Iowa has 41 ethanol refineries capable of producing 3.7 billion gallons annually. In addition, Iowa has 13 biodiesel facilities with the capacity to produce 320 million gallons annually.

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