A new study commissioned by the Iowa Renewable Fuels Association concluded that the biofuels industry added $12.7 billion, or about 10 percent, to Iowa GDP in 2007. Further economic benefits include...
- Generate $2.9 billion of household income for Iowa households
- Support the creation of more than 96,000 jobs through the entire Iowa economy
- Generate nearly $790 million in state tax revenue.
The study also lists the individual contributions made by the ethanol and biodiesel industries on the Iowa economy.