The ethanol industry’s contribution to the U.S. economy remained “robust” last year, as “record-setting production offset the impact of lower commodity prices,” according to an analysis released by the Renewable Fuels Association (RFA).
The RFA reported that in 2024, the industry directly supported 56,000 U.S. jobs, along with an additional 258,000 indirect and induced jobs across all sectors of the economy. The industry “created $28.3 billion in household income, contributed $53 billion to the nation’s gross domestic product and generated more than $10 billion in tax revenues at the federal, state and local levels.”
“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. “And they are excited about the opportunities that lie ahead this year, with a renewed focus on American energy security and bolstering the farm sector.”
The 2024 economic impact report also shows that the industry spent $30 billion on raw materials and other goods and services to produce ethanol last year. Corn purchases alone accounted for $23 billion, as the industry continued to support America’s farming communities.
Last month, NACS Daily reported that U.S. ethanol exports for 2024 totaled 1.72 billion gallons through November, surpassing the previous annual record of 1.67 billion gallons in 2018 according to the RFA.
The RFA said that the record was achieved even as several key ethanol markets—including Brazil and China—maintained punitive trade barriers against U.S. ethanol. “Moving forward, it is crucially important that U.S. ethanol producers maintain free and fair access to global markets for both renewable fuel and co-products like distillers grains. In 2025, open markets need to stay open, and shuttered markets need to be unlocked.”
Canada has been the top destination for exports, accounting for over one-third of total shipments. Other top destinations in 2024 included the United Kingdom, India, the European Union and Colombia.