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Study on ethanol’s economic impact on U.S.

A new study says the U.S. ethanol industry added more than $42-Billion-dollars to the nation’s gross domestic product in 2016. The study, commissioned by ABF Economics and released at the National Ethanol Conference, says the industry supported nearly 340-thousand jobs last year.

It says the production and use of more than 15 Billion gallons of ethanol last year also displaced more than 500-Million barrels of imported oil, keeping more than $20-Billion-dollars in the U.S. economy.

The study found “the importance of the ethanol industry to agriculture and rural economies” is most notable.

In presenting the report, Renewable Fuels Association CEO Bob Dinneen said that the “footprint of the U.S. ethanol sector touches every consumer in every city.”