MEDIA CONTACT

Monte Shaw 515-252-6249

FOR IMMEDIATE RELEASE                                                               

January 25, 2011                                                                                                                   

New Study: Iowa Economy Powered by

Strong Renewable Fuels Production

Iowa Has Opportunity to Create More Green Collar Jobs

JOHNSTON, IA – At its 5th Annual Iowa Renewable Fuels Summit today, the Iowa Renewable Fuels Association (IRFA) released a new study detailing the strong impact that renewable fuels production has on Iowa’s economy.  Additionally, bringing idled biodiesel capacity back into production could create green collar jobs and further grow Iowa’s economy.

“2010 was a year of mixed performance for renewable fuels,” said economist John Urbanchuk, technical director of Cardno ENTRIX.  “The ethanol industry experienced continued growth while the biodiesel industry languished following expiration of the federal biodiesel excise tax credit in December 2009.”

According to the report, “Importance of the Renewable Fuels Industry to the Economy of Iowa,” Urbanchuk found that 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. Based on the production of the renewable fuels industry at year-end 2010, ethanol and biodiesel:

• Accounts for $13.1 billion, or about 8 percent, of Iowa GDP;
• Generates $2.4 billion of household income for Iowa households;
• Supports nearly 49,000 jobs through the entire Iowa economy; and
• Accounts for $588 million of state tax revenue.

“Renewable fuels production continues to boost Iowa’s agricultural sector, which in turn, underpins the state’s entire economy,” said IRFA Executive Director Monte Shaw. “Iowa is in position to take steps that will continue record ethanol production while jumpstarting biodiesel production.  If Iowa seizes the moment, the result will be more jobs, more household income, and more tax revenue for the state.”

The complete study can be found online at:  www.IowaRFA.org/PDF/2011IowaBiofuelsEconomicImpactFinal.pdf

Iowa is the leader in renewable fuels production.  Iowa has 41 ethanol refineries capable of producing nearly 3.7 billion gallons annually. In addition, Iowa has 12 biodiesel facilities with the capacity to produce 315 million gallons annually.

The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s liquid renewable fuels industry. 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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