FOR MORE INFORMATION:
Monte Shaw, 515-252-6249

FOR IMMEDIATE RELEASE

January 21, 2008

Renowned Economist John Urbanchuk to Unveil Economic Impact of Biofuels at Iowa Renewable Fuels Summit

Participants of the Second Annual Event will be the First to Hear Results

JOHNSTON, IA – Participants from across the country will have the opportunity to hear economist John Urbanchuk discuss his updated economic impact study at the second annual Iowa Renewable Fuels Summit. The Iowa Renewable Fuels Association (IRFA) is hosting the event at the Polk County Convention Center from 1 p.m. to 5:30 p.m. on Jan. 31.

Urbanchuk’s findings will address several areas where biofuels are having an impact, including the positive impact on Iowa’s GDP, generating more household income, job creation and retention, and boosting additional tax revenue for the state. Summit participants will be the first to hear Urbanchuk’s latest findings.

“With more plants operating, more renewable fuels being produced and more operational expenditures, it’s no surprise that the renewable fuels industry is having a greater impact on the Iowa economy than ever before,” said IRFA Executive Director Monte Shaw. “John Urbanchuk is the most respected economist in this field and we think he’s going to have an exciting story to tell.”

The summit is free and open to the public. Pre-registration is required. Participants can register online at www.IowaRFA.org, where they’ll find more links and information relating to the summit, or by calling Matt Bockert at 515-252-6249.

“With more than 450 already registered, the crowd will surpass last year. I think that’s partly because the program is designed for everyone from the general public to industry insiders,” Shaw said. “But it also says a lot about how the entire country looks at Iowa as the leader in renewable fuels.”

Iowa is the leader in renewable fuels production. Iowa has 28 ethanol refineries with the capacity to produce nearly 2.1 billion gallons annually. There are 16 ethanol refineries under construction or expansion that will add over 1.5 billion gallons of annual capacity. In addition, Iowa has 14 biodiesel refineries with a combined annual capacity of over 315 million gallons in operation. Two biodiesel refineries under construction will add 35 million gallons of capacity.  Many additional renewable fuels projects are under development.

The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s ethanol and biodiesel producers. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.

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