July 08, 2010
Study Shows What Biofuels Means to Indiana
Published in Hoosier Ag
Several hundred Indiana business and government leaders gathered in Indianapolis on Wednesday for a special conference on ethanol. Sponsored by the Indiana corn and soybean check off programs along with Growth Energy, the event was designed to educate business and elected officials about the importance of the renewable fuels industry in Indiana. The results of a study on the economic impact of ethanol to the Hoosier State were presented. Mark Walters, Biofuels Director for the check off programs, stated, “Fundamentally, we have a $3 billion industry here in the Hoosier State.” The study, conducted by Informa, showed that for every job in the ethanol industry 6 more jobs are created in the general economy. Walters said about 3,500 jobs in Indiana can be tied to the ethanol industry. The study also showed the development of the ethanol industry has brought $2.7 billion in new investment into the state and has increased the price of corn in Indiana by an average of 10 cents per bushel.
Walters also revealed results of a consumer attitude survey that showed 70% of Hoosier consumers support ethanol and approve of government support for the industry. He said it is important that our state leaders also understand the facts, “This is an industry that can have significant economic impact and value to the state.”
A 5 year strategic plan published by the ICMC forecasts that, while corn acres will remain relatively flat in Indiana, increases in yields will boost the Hoosier corn crop to over a billion bushels annually. This increase will be needed to meet the growing demand for ethanol in the state. Indiana ethanol production is forecast to climb 900 million gallons to 1.2 billion gallons by 2014.
Growth Energy Co-Chairman Gen Wesley Clark said it is important that state and federal leaders get the message about renewable fuels, “What we’re seeing in places like Indiana and elsewhere around the country is that people want to have a choice at the pump - and they want domestic ethanol to be one of those choices. The more domestic ethanol we produce, the less foreign oil we need. And every gallon of domestic ethanol creates U.S. jobs, cleans the air and strengthens our national security. Today we’re asking Congress to hear the people of Indiana and include provisions to level the playing field for domestic ethanol in the July energy debate.”
Growth Energy is sponsoring events across the Midwest this week to put pressure on lawmakers to get moving on energy issues. “During this Independence Day recess, we are urging Congress to bring an energy bill to the floor that promotes America’s fuel,” said Tom Buis, CEO of Growth Energy, the coalition of domestic ethanol supporters. “In these tight economic times when we are sending billions of dollars overseas to fund the economies of foreign countries, we need legislation that will keep that money right here in America. Domestic ethanol is the only commercially viable, renewable fuel that creates American jobs while cleaning our air and strengthening our economy and national security. Now, more than ever, ethanol must be at the heart of this debate in Congress.” Earlier this ...
