Report on Ethanol Affirms Industry’s Economic Contribution
INDIANAPOLIS, Ind. (May 12, 2015) — A recent study sponsored by the Indiana Corn Marketing Council detailed the economic impact of the 998 million gallons of Indiana ethanol produced in 2014.
“Economic Impact of the Ethanol Industry on Indiana’s Economy in 2014” was completed by Informa Economics and reported that the ethanol industry contribution to Indiana’s gross state product last year was $934 million.
“Ethanol continues to be a growing and significant sector of Indiana’s agricultural industry as demonstrated by numbers from this study,” said Gerald Gauck, chairman of ICMC’s Demand Committee from Milan, Ind. “Not only does ethanol contribute to Indiana’s gross state product, it also generates jobs, tax revenue and economic investment throughout local communities.”
In 2014, Indiana’s ethanol industry directly employed 526 people and created 3,620 full-time equivalent jobs elsewhere in Indiana’s economy. In addition to investing in jobs, the ethanol industry’s direct capital investment here in the state totals $1.5 billion since 2006.
Indiana now ranks as the nation’s seventh largest producer of ethanol, with the state’s 14 operating ethanol plants boasting an annual operating capacity of more than one billion gallons of ethanol. Indiana’s ethanol production has increased more than 13-fold since 2000.
“Indiana’s corn farmers want to promote our state’s ethanol industry because it not only increases demand for our product, but it also benefits consumers, the environment and the state and national economies,” said Gauck. “The study shows consumer savings resulting from ethanol blended into our fuels totaled $148 million last year. That’s a benefit directly to consumers’ pocketbooks.”
The study was presented on May 7 at the Indiana Ethanol Forum hosted by the Indiana Corn Growers Association. To view the study, visit www.incorn.org/ethanol.
In addition to this economic research on the industry, ICMC also has invested in research that has looked at the next generation of ethanol technologies. ICMC also works with fuel retailers through a grant program to encourage new infrastructure to offer mid-level ethanol blends for drivers of Flex Fuel Vehicles (FFVs). To date, the corn checkoff has helped fuel retailers add 16 flex fuel pumps across the state that offer blends from E15 to E85.
The Indiana Corn Marketing Council was established by the Indiana General Assembly to promote the interest of corn growers in the state and manage corn checkoff funds. The Council is composed of 17 voting producer directors and seven appointed industry, and government representatives. This communication was funded with corn checkoff dollars.