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CRFA releases biofuels impact report

By Luke Geiver
Posted May 27, 2010, at 3:11 p.m. CST

The Canadian Renewable Fuels Association has released the first-ever third party economic impact assessment of renewable fuels investments in Canada. Conducted by econometric firm Dolyetech Corp., the assessment reported that ethanol and biodiesel use added $2 billion to Canada's annual economy. The 28 operating renewable fuels plants in Canada produced roughly 660 MMgy and provided a net benefit of $1.473 billion to the economy. The operating facilities also created 1,038 direct and indirect jobs while the plants under construction created 14,177 jobs.

"This is the first report of its kind to study the economic impact of Canadian renewable fuel plants, and the results are undisputable, ethanol and biodiesel in Canada are driving growth," said Gordon Quaiattini, president of the CRFA. "It's overwhelmingly clear that Canada's new renewable fuel standard is delivering on its promise of jobs, investment and growth."

Doyletech used its EconWin model to create total impact assessments for all 28 plants either operating or under construction, taking into account the opportunity costs associated with the construction of a plant. "Renewable fuels represent a highly-significant capability to enhance regional economies in Canada, and specifically rural areas can be revitalized," the report stated.

"Even making allowance for the opportunity costs of alternate investments, and the opportunity costs of alternate feedstock sales, renewable fuels plants in Canada represent a positive net economic benefit," the report concluded. The total annual positive economic impact of renewable fuels reached $2.013 billion, according to the report.

To view the full study, visit: http://www.greenfuels.org/files/Doyletech%20Total%20Economic%20Impact%20of%20Biofuels%20Plants.pdf.

SOURCE: ETHANOL PRODUCER MAGAZINE
 

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