New Economic Report Finds Diesel Industry Provides Billion of Dollars and Over a Million Jobs to U.S. Economy (Video)

According to a new economic report recently released by the Diesel Technology Forum (DTF), the diesel industry contributes more than $480 billion annually to the U.S economy, provides more than 1.25 million jobs and supplies a substantial export-to-value ratio five times higher than the national average.

The report, “Diesel Powers the U.S. Economy: Providing High-Paying Jobs, Exports and Long-Term Productivity Gains in the Nation’s Fundamental Sectors,” was researched by Aspen Environmental Group and M.Cubed and released during a press conference at the National Press Club. The study evaluated the direct contribution of clean diesel engine and equipment manufacturing and fuel refining to the economy as well as the indirect contributions and influence of diesel technology on 16 diesel-reliant sectors of the economy. To access the report and appendixes go here.

According to the report, the diesel technology producing and servicing sectors directly contributed $183 billion and 1.25 million jobs to the U.S. economy in 2009 and another $300 billion was created through indirect and induced ripple effects. These included “highly productive” jobs with each diesel-related employee creating $146,000 directly in national income, nearly a third higher the national average of $110,000 per employee.

The diesel technology producing sectors were even higher, averaging $207,000 per job.Beyond producing engines and fuel, diesel technology and fuel powered $455 billion or 3.2 percent of the 2009 GDP from key diesel-reliant industries. For every dollar of economic value from diesel technology, $4.51 is added elsewhere to national income in related industries that rely on diesel. The total GDP contribution for key diesel sectors, both technology producing and reliant, as well as diesel services, was $638.5 billion in 2009.

“Diesel is a major economic factor and job creator in the U.S. economy and is vital to America’s economic recovery and growth,” said Allen Schaeffer, the executive director of the Diesel Technology Forum. “Diesel not only provides jobs in the manufacturing and refining industries, it provides equipment and engines to our agricultural, mining and construction industries, and transports virtually every commodity available to American consumers.

“Diesel is a technology and an industry that is largely home grown, highly successful, and provides good paying jobs that exemplifies U.S. innovation and technological advancements. The clean diesel industry also manufacturers and supplies the energy efficient, low-emissions products that are not merely aspirations of the future, but highly valued exports that are sought after today by nations in all regions of the world.

“Diesel is the prime fuel for transporting freight, powering tractors, building roads, and meeting critically important demand for emergency services and national defense. More than 80 percent of products exported from and imported to the U.S. are moved using diesel technology and about 75 percent of the fossil-fueled equipment used in construction, mining and agriculture are diesel-powered.”

Want to learn more? Watch this video on why you should join the Diesel Technology Forum.