RFA study shows major economic benefits of ethanol in 2020 despite pandemic

In Washington, even after experiencing a sudden drop in demand due to the COVID pandemic, the U.S. ethanol industry still had a significantly positive impact on the U.S. economy in 2020, according to the annual ethanol industry economic impact study released today by the Renewable Fuels Association.

The economic analysis was prepared for the RFA by John M. Urbanchuk, Managing Partner of ABF Economics.

In 2020, more than 62,000 U.S. jobs were directly associated with the ethanol industry, which supported an additional 242,600 indirect and induced jobs across all sectors of the economy. The industry created $18.6 billion in household income and contributed $34.7 billion to the national gross domestic product. This was 19 percent below 2019’s GDP contribution, primarily as the result of lower output and lower prices.