This is an excerpt from EERE Network News, a weekly electronic newsletter.
Study: Ethanol Production Plants Boost Local Economies
A report issued on June 21st by the Renewable Fuels Association (RFA) demonstrates that ethanol production plants yield significant benefits for local economies. Assuming a typical ethanol plant production capacity of 40 million gallons per year, the study found that the plant injects $142 million into the local economy during construction, followed by direct spending of $56 million per year, which ultimately generates $110.2 million each year for the local economy. The plant creates 41 full-time jobs at the plant and a total of 694 jobs throughout the entire economy, increasing household income for the community by $19.6 million annually and boosting state and local sales tax receipts by an average of $1.2 million per year.The presence of the plant also tends to increase local corn prices by 5 to 10 cents per bushel, helping local farmers. See the RFA press release or download the full report (PDF 37 KB). Download Acrobat Reader.