Biofuel tax incentives boost economies, industry association says

10/10/2010 | Waterloo-Cedar Falls Courier (Iowa)

The biofuel tax credits should be renewed because they spur economic activity and increase revenue for state and federal governments, according to Monte Shaw, executive director of the Iowa Renewable Fuels Association. A study by the IRFA found that Iowa's biofuels industry in 2009 contributed $11.5 billion to the state's gross domestic product, accounted for 70,000 jobs and paid $532 million in state taxes. In the same year, biofuels accounted for $8.4 billion in federal tax revenue and $7.5 billion in state and local revenue, Shaw added.

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Waterloo-Cedar Falls Courier (Iowa)

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