WASHINGTON--(BUSINESS WIRE)--USDA’s new report “Why Biobased?” is the first comprehensive federal quantification of the job opportunities and other economic benefits of the growing biobased products and renewable chemical industry. The Biotechnology Industry Organization today thanked Agriculture Secretary Tom Vilsack for supporting the research and writing of the report.
Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, noted, “The bioeconomy is rapidly growing, creating new economic opportunities and providing well-paying jobs for tens of thousands of Americans. By 2025, employment in the renewable chemical sector could represent approximately 20 percent of all U.S. chemical jobs.
“USDA’s new report on opportunities in the emerging bioeconomy is an important first step in quantifying those economic impacts, and we thank the authors of the report. We encourage USDA to continue to develop an economic impact model that will identify additional opportunities and track the growth of the bioeconomy.”
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter.” Subscribe to the BIO Newsletter.
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