is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist

Biodiesel Board Says Industry Will Add $24 Billion to Economy

A study released by the National Biodiesel Board has that industry growing to 650 million gallons per year by 2015.

A new economic study, released by the National Biodiesel Board, says that the growing biodiesel industry will add $24 billion to the U.S. economy by 2015.

The figure assumes that the biodiesel industry will grow to produce 650 million gallons annually. If this growth holds, the study says biodiesel will create 39,102 new jobs.

However ambitious the numbers, the study seems right to assume that the biodiesel industry will continue to grow. American Ag Fuels, one company in the process of building a new plant, is expanding production from 2 million to 5 million.

"We decided to expand because frankly we've had trouble keeping up with demand," says American Ag Fuels President Steve Lankenau.

The study also has farmer-level soybean prices climbing 10% within 10 years, if nearly 500 million gallons of biodiesel comes from soybean oil. The study says that tax revenues from biodiesel production will pay off the industry's federal tax incentives.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.