2023 - Ethanol's strong impact on economy and jobs

Feb 20, 2024

By Farms.com

The ethanol industry in 2023 stood out as a pivotal economic and environmental contributor in the United States. Directly employing over 72,400 people, with an additional 322,000 jobs influenced indirectly, the sector underscored its integral role in the national employment landscape.

Generating a substantial $32.5 billion in household income and contributing over $54.2 billion to the GDP, the industry's economic impact was profound. This activity also translated into significant tax revenue, approximately $10.4 billion, benefiting federal, state, and local governments.

With the industry achieving stability post-2022's inflation and energy challenges, it embarked on a trajectory of expansion and stability.

Investment in production inputs reached nearly $39 billion, with corn procurement alone nearing $32 billion, indicating the industry's significant support for agriculture and rural communities. Particularly in Iowa, the ethanol industry's influence was remarkable, supporting over 100,000 jobs and showcasing the sector's deep roots in local economies.

Looking forward, the industry's dedication to innovation and market expansion promises further economic and environmental benefits.

By embracing new technologies and markets, the ethanol sector is set to continue its role as a pioneer in green job creation and a leader in reducing greenhouse gas emissions. This forward momentum solidifies the ethanol industry's position as a key player in America's sustainable future and economic resilience.

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