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Home » BioRefineries, Business News/Analysis, Feedstocks, Field Crops, Green Jobs, Minnesota

Ethanol Brings $2 Billion Per Year to Minnesota’s Economy

Submitted by on February 28, 2017 – 11:00 amNo Comment

(Minnesota Bio-Fuels Association/Ethanol Producer Magazine)  The ethanol industry continued to boost Minnesota’s economy in 2016, contributing $1.98 billion to the state’s gross domestic product (GDP).

A new study released by ABF Economics, which was commissioned by the Minnesota Bio-Fuels Association, said Minnesota’s ethanol industry produced 1.18 billion gallons of ethanol last year. This in turn generated $6.67 billion in gross sales for Minnesota businesses and supported nearly 18,000 jobs in 2016.

ABF Economics said Minnesota’s ethanol industry generated nearly $1.5 billion in household income and paid $80 million to state and local taxes in 2016.

As for corn oil, the study said the 244 million pounds produced could produce 33.5 million gallons of biodiesel, which is over 26 percent of Minnesota’s biodiesel capacity.

Apart from jobs at ethanol plants, the ethanol industry supported jobs in agriculture, construction as well as input and component suppliers in 2016. This, in turn, impacted jobs in industries such as healthcare, food and beverage, accounting, banking and finance and retail.

Read the full report here.    READ MORE

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