National Ag News
Ethanol industry contributed nearly $2 billion to Minnesota economy
Feb 27, 2017, 15:04 PM
by
System
A new study conducted by an ag consulting service shows the ethanol industry contributed nearly $2 billion dollars to Minnesota’s economy in 2016.
The Minnesota Biofuels Association commissioned ABF Economics to estimate the impact of ethanol by applying expenditures to the relevant supplying industry and appropriate final demand multipliers for value-added output, earnings and employment.
ABF found that Minnesota’s ethanol industry generated almost $1.5 billion dollars in household income a year ago, and paid $80 million in state and local taxes.
