Renewable fuels, such as ethanol, put billions into Colorado economy, report says

Source: Denver Business Journal • Posted: Friday, April 25, 2014

 The renewable fuel industry puts billions of dollars into Colorado’s economy and supports thousands of jobs, according to a new study from The Fuels America coalition.

Renewable fuels, including ethanol and biodiesel made from plants such as corn, grass or woody biomass and algae, account for nearly 10 percent of the fuel supply across the nation, according to the coalition of agribusiness groups and companies, which released the study Thursday.

The coalition is battling efforts to repeal or cut the existing Renewable Fuel Standard, a federal mandate requiring ethanol and biodiesel be blended into the nation’s fuel supply.

In Colorado, the benefits include:

  • $2.7 billion of economic output;
  • 10,619 jobs and $642.2 million in wages;
  • $62.3 million in state tax revenue each year.

Nationally, the industry supports 852,000 and $46 billion in wages, the report said.

The study was done for the coalition byJohn Dunham & Associates.