- 2012’s second highest annual ethanol production helped displace 465 million barrels of imported oil worth $47.2 billion.
In a challenging year for America’s farm economy, domestic ethanol production reached an estimated 13.3 billion gallons — the second highest annual production level in history amidst the nation’s worst drought in 50 years.
According to analysis conducted by Cardno-ENTRIX and commissioned by the Renewable Fuels Association (RFA), the production of the estimated 13.3 billion gallons of ethanol directly employed 87,292 Americans. An additional 295,969 Americans found work in positions indirectly affiliated with or induced by ethanol production.
These 383,260 total jobs helped create $30.2 billion in household income and contributed $43.4 billion to the national Gross Domestic Product (GDP).
Last year’s second highest annual ethanol production also helped displace 465 million barrels of imported oil worth $47.2 billion.
“This past year, our nation’s ethanol industry has demonstrated its efficiency and resilience during one of the worst droughts in half a century. Despite the weather and declining gasoline consumption, our domestic, homegrown industry kept up production, continued to improve the environment, and helped reduce our dependence on foreign oil,” said RFA President and CEO Bob Dinneen.
The report, entitled “CONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES,” was completed by Cardno-ENTRIX and can be downloaded here.
Key finding of the report include:
• 87,292 direct jobs
• 295,969 indirect and induced jobs
• $43.4 billion contribution to GDP
• $30.2 billion in household income
• 465 million barrels of imported oil displaced, valued at $47.2 billion in 2012
• $7.9 billion paid in federal, state and local taxes helping support local roads, schools, first responders