Iowa’s renewable fuels industry accounted for almost $4 billion or about 2 percent of Iowa’s gross domestic product in 2020, according to a report commissioned by the Iowa Renewable Fuels Association.
The report, written by Agriculture and BioFuels Consulting’s John Urbanchuk, shows the industry also provided $1.8 million in household income and 37,000 jobs.
Biodiesel production increased in 2020, but ethanol production — which accounts for about 88 percent of the 37,000 jobs — faced myriad obstacles.
Decreased fuel consumption during coronavirus, the U.S. Environmental Protection Agency’s use of small-refinery waivers and a drop in exports to Canada and Brazil all hampered the industry.
“Biofuels still provide a major boost to Iowa’s economy, but quite frankly, the report is a wake-up call to redouble our efforts at the state level,” said Monte Shaw, IRFA’s executive director, in a news release.
“Midwestern states like Iowa must be aggressive to drive local demand for biofuels in a meaningful way, thereby providing a sturdy market foundation, even as we supply the rest of the United States and markets around the world.”
Comments: (319) 398-8394; email@example.com