Minnesota Ethanol Report 11 Oct 12

The Minnesota Department of Agriculture says the ethanol industry generated $5-billion for the state’s economy last year. The department’s report says ethanol supported more than 12,600 jobs and added $912-million to the value of the state’s corn crop in 2011. Ethanol producers pushed to make as much of the gasoline additive as possible last year because Congress was ending a federal production tax credit. That flooded the market and lowered the demand for ethanol early this year. Minnesota farmers harvested more than 1.2-billion bushels of corn last year. About 37% of the harvest was used to produce ethanol and its byproduct.