- An Economic Driver for Iowa
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 11 operating biodiesel plants produced an estimated 349 million gallons in 2022, making it the top biodiesel-producing state. A study by ABF Economics shows contributions to all sectors of the state's economy.
BY THE NUMBERS:
- 7,000 - The number of full-time equivalent jobs in all sectors of the Iowa economy supported by the increase in economic activity generated by biodiesel annually
- $1 billion – the biodiesel industry’s contribution to Iowa’s GDP
- $500 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. A StoneX 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 $1.17 per bushel in 2020, 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)