With strong policy direction, the United States can leverage its leadership in biotechnology, agricultural productivity and manufacturing innovation to build a biobased economy. The Biotechnology Industry Organization (BIO) today thanks Sen. Debbie Stabenow (D-Mich.) for announcing additional policy proposals for the Grow It Here, Make It Here initiative.
BIO President & CEO Jim Greenwood said, “Building a biobased economy in the United States will generate good jobs in manufacturing, agricultural production and forestry, transportation and distribution, and construction. Biomanufacturing opportunities can help revitalize traditional manufacturing regions, such as Michigan, and rural areas, creating a healthy, sustainable biobased economy. The biobased product industry already employs more than 50,000 people in the United States and can generate tens of thousands more in the next five years.
“Renewed economic growth and security depends on producing affordable domestic alternatives to all of the products that come from foreign oil. Senator Stabenow’s Grow It Here, Make It Here initiative will help bio-based manufacturers access vital capital, strengthen market opportunities for biobased products, and spur commercialization of agricultural and industrial biotech innovations. Technology neutral support for all biobased products, renewable chemicals, and biofuels such as this initiative will help build a robust biobased economy.”
BIO’s report, “Biobased Chemicals and Products: A New Driver for Green Jobs,” documents the potential for job creation through biomanufacturing and is available on the BIO.org website.