Tuesday, February 6, 2007
Contact: Jessica Robinson, 573-751-0290
Blunt Unveils Economic Benefits of Biofuels Industry in Missouri
JEFFERSON CITY–Gov. Matt Blunt today highlighted the results of a Missouri Economic Research & Information Center (MERIC) study that examined the widespread economic benefits the biofuels industry brings to Missouri.
“The production of renewable fuels is one of Missouri agriculture’s greatest success stories,” Blunt said. “In the same way that Missouri’s family farmers rose to a great challenge and fed the world in the last century, this century’s family farmers will answer another noble calling and fuel America. This study shows that renewable fuels will not only help reduce our dependence on foreign oil, but also create jobs and economic growth.”
The MERIC analyzed the projected economic impact of the biofuels industry in Missouri from 2004 to 2013. According to this study, the industry creates on average of 7,000 jobs for Missourians every year. By 2008 Missourians will see more than 600 jobs at an average wage of nearly $40,000. The industry will account for $542 million in new economic activity each year.
Missouri currently has four operating, farmer-owned ethanol plants in Craig, Macon, Malta Bend and Laddonia, and more are in the development stages. Missouri is home to three operational biodiesel plants in Bethel, Bunceton and Mexico, and several additional plants are in the planning stages.
The governor has proposed full funding for the biodiesel and ethanol incentive funds to ensure Missouri’s continued success in the growing alternative fuels industry. Blunt’s proposed budget will also include $5.1 million for back payments to the ethanol incentive fund, the amount required to make up all payments that were not honored before he assumed office.
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