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Determining the Regional Economic Values of Ethanol Production in Iowa Considering Different Levels of Local Investment

Author

Listed:
  • Swenson, David A.
  • Eathington, Liesl

Abstract

This study develops a baseline economic impact model for a 50MGY ethanol plant considering all new production inputs and estimated net new output in the new economy. The baseline scenario presupposes no local ownership in the plant. The research next allocates payments to investors back into the study economy to simulate different levels of "local" investment and, concomitantly, local receipt of profits. For each 25 percent increase in local ownership, the model added 29 more jobs to the local economy.

Suggested Citation

  • Swenson, David A. & Eathington, Liesl, 2006. "Determining the Regional Economic Values of Ethanol Production in Iowa Considering Different Levels of Local Investment," Staff General Research Papers Archive 12687, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:12687
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    File URL: http://www2.econ.iastate.edu/papers/paper_12687.pdf
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    Cited by:

    1. Low, Sarah A. & Isserman, Andrew M., 2008. "Ethanol: Implications for Rural Communities," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6157, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Coon, Randal C. & Hodur, Nancy M. & Bangsund, Dean A., 2016. "Evaluation of the North Dakota Agricultural Products Utilization Commission Grant Programs," Agribusiness & Applied Economics Report 244753, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Guerrero, Bridget L. & Johnson, Jeffrey W. & Amosson, Stephen H. & Johnson, Phillip N. & Segarra, Eduardo & Surles, James, 2011. "Ethanol Production in the Southern High Plains of Texas: Impacts on the Economy and Scarce Water Resources," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 41(1), pages 1-11.
    4. Grant J. Allan, 2015. "The Regional Economic Impacts of Biofuels: A Review of Multisectoral Modelling Techniques and Evaluation of Applications," Regional Studies, Taylor & Francis Journals, vol. 49(4), pages 615-643, April.
    5. Miranowski, John A. & Swenson, David & Eathington, Liesl & Rosburg, Alicia, 2008. "Biofuel, the rural economy, and farm structure," Risk, Infrastructure and Industry Evolution Conference, June 24-25, 2008, Berkeley, California 48720, Farm Foundation.
    6. Grant Allan & Peter Mcgregor & Kim Swales, 2011. "The Importance of Revenue Sharing for the Local Economic Impacts of a Renewable Energy Project: A Social Accounting Matrix Approach," Regional Studies, Taylor & Francis Journals, vol. 45(9), pages 1171-1186, March.
    7. Lambert, D.M. & Wilcox, M. & English, A. & Stewart, L., 2008. "Ethanol Plant Location Determinants and County Comparative Advantage," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(1), pages 117-135, April.
    8. Berka, Anna L. & Creamer, Emily, 2018. "Taking stock of the local impacts of community owned renewable energy: A review and research agenda," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3400-3419.
    9. Coon, Randal C. & Hodur, Nancy M. & Bangsund, Dean A., 2017. "Economic Impact of North Dakota's Ethanol Industry in Fiscal year 2015," Agribusiness & Applied Economics Report 260094, North Dakota State University, Department of Agribusiness and Applied Economics.
    10. Schmit, Todd M. & Verteramo, Leslie J. & Tomek, William G., 2009. "Implications of Growing Biofuel Demands on Northeast Livestock Feed Costs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 38(2), pages 1-13, October.
    11. Schmit, Todd M. & Verteramo, Leslie & Tomek, William G., 2007. "Biofuel Demands: Their Implications for Feed Prices," Working Papers 179943, Cornell University, Department of Applied Economics and Management.
    12. Jin, Zhong & Teahan, Brittany, 2009. "Iowa’s Tax Incentive Programs Used by Biofuel Producers Tax Credits Program Evaluation Study," MPRA Paper 14795, University Library of Munich, Germany.
    13. Brown, Jason P. & Weber, Jeremy G. & Wojan, Timothy R., 2013. "Emerging Energy Industries and Rural Growth," Economic Research Report 262215, United States Department of Agriculture, Economic Research Service.
    14. Sarah A. Low & Andrew M. Isserman, 2009. "Ethanol and the Local Economy," Economic Development Quarterly, , vol. 23(1), pages 71-88, February.
    15. Coon, Randal C. & Hodur, Nancy M. & Bangsund, Dean A., 2012. "Renewable Energy Industries' Contribution to the North Dakota Economy," Agribusiness & Applied Economics Report 140122, North Dakota State University, Department of Agribusiness and Applied Economics.
    16. repec:rre:publsh:v:40:y:2010:i:2:p:135-43 is not listed on IDEAS
    17. Lester, T. William & Little, Mark G. & Jolley, G. Jason, 2015. "Assessing the Economic Impact of Alternative Biomass Uses: Biofuels, Wood Pellets, and Energy Production," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(1).
    18. Jason Henderson & Nancy Novack, 2007. "Can ethanol power the rural economy?," Main Street Economist, Federal Reserve Bank of Kansas City, issue 1.
    19. Jason Henderson, 2009. "The impact of the ethanol boom on rural America," Regional Economic Development, Federal Reserve Bank of St. Louis, issue Apr, pages 65-73.

    More about this item

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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