An Economic Driver for Iowa
Biodiesel producers are a vital part of a manufacturing sector that adds substantial value to agricultural commodities produced in Iowa, and makes a significant contribution to the Iowa economy.
Iowa’s biodiesel plants produced about 345 million gallons of biodiesel in 2019.
A study by ABF Economics of 2019 biodiesel production levels shows an increase in economic activity generated by biodiesel production.
BY THE NUMBERS:
- 3,875 - The number of full-time equivalent jobs in all sectors of the Iowa economy supported by the increase in economic activity generated by biodiesel
- $489 million – the biodiesel industry’s contribution to Iowa’s GDP
- $263 million – amount of household income in Iowa as a result of biodiesel
Farm Economy Impact
A strong Iowa biodiesel market helps farmers weather difficult economic times, supporting Iowa’s number one industry: agriculture. An FCStone analysis shows the following farm impact:
- By increasing soybean oil value, biodiesel supports 13 percent of the price per bushel of soybeans
- This equated to $1.09 per bushel in 2019, while lowering the price of meal for livestock producers and the food supply
Biodiesel production helps livestock production become more profitable while increasing our available food supply and reducing food prices.
Video: Biodiesel and Agriculture (REG)