A new economic impact study commissioned by Clean Fuels Alliance America and funded by the Nebraska Soybean Board shows how clean fuels like biodiesel, renewable diesel and sustainable aviation fuel are reshaping the soybean economy and positioning Nebraska farmers to benefit. The study, “Economic Impact of Biodiesel on the U.S. Economy 2024,” conducted by GlobalData, found that the clean fuels industry supported $42.4 billion in U.S. economic activity, including 107,400 jobs.
In Nebraska alone, the industry supported 4,618 jobs and contributed over $204 million in wages, highlighting the local impact of this national success story. As demand grows, those returns will scale, benefiting farmers, processors and the regions they call home.
One major sign of that momentum is Ag Processing Inc.’s (AGP) announcement of a new soybean processing facility in David City, with the capacity to process over 50 million bushels per year. This investment is part of a broader shift across the country. The growing demand for clean fuels is contributing to a 30% increase in U.S. soybean crush capacity, leading to more processors competing for crops and keeping more value close to the farm. For Nebraska farmers, that means shorter hauls, stronger basis, more marketing flexibility and increased resilience against export market uncertainty.
Demand for soybean oil from biodiesel and renewable diesel accounts for 10 percent of the value of every bushel grown in the United States, a major shift from when soybeans were valued mainly for their protein and oil was just a byproduct. Today, soybean oil is a premium commodity, driven by its role as a key feedstock for low-carbon fuels. In Nebraska, that oil may be used for biodiesel production in adjacent states or transported to coastal refineries serving clean fuel markets in California, Oregon and Washington.
The GlobalData study also looks ahead to a scenario where clean fuel production scales up to 7.4 billion gallons annually, based on announced investments. At that level, the industry could support 145,700 jobs and contribute $60.25 billion to the U.S. economy each year.
With AGP’s new plant in David City, Norfolk Crush’s facility in Norfolk and a nationwide surge in crush capacity, Nebraska soybean farmers are entering a new era of opportunity. The Nebraska Soybean Board’s investment in the economic impact study reflects its commitment to helping farmers see the full picture—and the full potential—of today’s soybean markets. Clean fuels are a key piece of that puzzle.
Learn more about the study and its findings by visiting the full report online at cleanfuels.org.
