Despite policy obstacles and ongoing trade disputes, a new study released at the Renewable Fuels Association’s 25th annual National Ethanol Conference says the ethanol industry supported nearly 350,000 jobs and generated almost $43 billion in gross domestic product in 2019, according to the analysis conducted by ABF Economics.
According to a report at DRGNews.com, the production and use of 15.8 billion gallons of ethanol in 2019:
- Supported more than 68,600 direct jobs and just over 280,000 indirect and induced jobs across all sectors of the economy
- Supported more than 14,700 jobs and $5.8 billion in GDP through exports alone
- Generated an estimated $4.1 billion in tax revenue to the federal treasury and $3.8 billion in revenue to state and local governments
- Displaced an amount of gasoline refined from more than 500 million barrels of imported crude oil, keeping $32 billion in the U.S. economy
