While Oklahoma has no ethanol manufacturing operations, the U.S. ethanol industry added $44 billion to the nation’s gross domestic product in 105 according to a new study by ABF Economics. It also supported nearly 360,000 jobs.
The study was released this week by the Renewable Fuels Association at the National Ethanol Conference underway in New Orleans. It showed that as a result of last year’s record domestic ethanol production, 85,967 direct jobs and 271,440 indirect and induced jobs were sustained. The industry also added $43.9 billion to the national GDP, $23.5 billion to household income and paid $8.7 billion in taxes.
“The numbers speak for themselves and underscore the indelible positive impact the domestic ethanol industry continues to have on America’s economy,” said Bob Dinneen, president and CEO of the RFA.
He said the study also showed that the industry increased federal, state and local taxes by $8.7 billion and displaced 527 million barrels of imported oil, keeping $26 billion in the U.S. economy.
