Ethanol Industry Boosts U.S. Economy with Record Growth

Ethanol Sector Supports Jobs and Economic Growth In 2024

The ethanol industry played a crucial role in strengthening the U.S. economy in 2024, setting a new production record while supporting jobs and boosting exports.

According to a Renewable Fuels Association (RFA) report, the industry contributed significantly to employment, household income, and tax revenues.

The report highlights that the ethanol industry directly supported 56,000 jobs and indirectly contributed to 258,000 more across various sectors. It generated $28.3 billion in household income and added $53 billion to the nation’s GDP. Federal, state, and local tax revenues from the industry exceeded $10 billion, further supporting the economy.

"Our nation’s ethanol producers worked overtime in 2024 to set a new production record and ensure American families could enjoy the benefits of a cleaner, lower-cost domestically produced fuel option,” said RFA President and CEO Geoff Cooper.

Exports reached 1.91 billion gallons, accounting for 11% of industry-related jobs, while domestic consumption slightly increased. The industry spent $30 billion on raw materials, with corn purchases alone amounting to $23 billion, reinforcing its impact on agriculture.

Beyond economic benefits, ethanol helps enhance U.S. energy security and reduce emissions. The report highlights that increasing the availability of mid- and high-level ethanol blends and the development of sustainable aviation fuel will further strengthen the industry’s role.

With continuous growth, the ethanol industry remains a key driver of economic and environmental progress in the U.S.