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BIO President & CEO Greenwood Testifies to House Subcommittee on the Next Farm Bill

The Biotechnology Innovation Organization (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. Our members are working every day to solve the greatest challenges facing society – whether it is finding a cure for cancer, protecting the public against bio-terror threats, feeding hungry people nutritious food, or generating renewable fuels, renewable chemicals and biobased products. We support public policies, including government funding for key agencies and programs that unleash our members’ scientific innovation potential and grow the bioeconomy. BIO also is one of the founding members of the Agriculture Energy (Ag Energy) Coalition, a coalition of trade groups, companies, and organizations representing thousands of farmers and businesses across the United States who are developing an “all-of-the-above” approach to renewable energy, energy efficiency, and farm and forest resources.

Written Testimony of the Honorable James C. Greenwood
President and CEO, Biotechnology Innovation Organization
U.S. House of Representatives
Committee on Agriculture
Subcommittee on Commodity Exchanges, Energy, and Credit
The Next Farm Bill: Examining Rural Development & Energy Programs

March 9, 2017

Introduction

The Biotechnology Innovation Organization (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. Our members are working every day to solve the greatest challenges facing society – whether it is finding a cure for cancer, protecting the public against bio-terror threats, feeding hungry people nutritious food, or generating renewable fuels, renewable chemicals and biobased products. We support public policies, including government funding for key agencies and programs that unleash our members’ scientific innovation potential and grow the bioeconomy. BIO also is one of the founding members of the Agriculture Energy (Ag Energy) Coalition, a coalition of trade groups, companies, and organizations representing thousands of farmers and businesses across the United States who are developing an “all-of-the-above” approach to renewable energy, energy efficiency, and farm and forest resources.

Within its broad membership, BIO’s member companies are developing new agricultural and low-carbon feedstocks, industrial enzymes, and biological catalysts for the conversion of biomass into advanced biofuels, alternative jet fuels, renewable chemicals, and biobased products. Utilizing the power of industrial biotechnology, companies across the country are creating a robust biobased economy. Biobased production encompasses a complex value chain, from agriculture through the manufacture of consumer goods, that provides an alternative to the petroleum-based value chain and that brings environmental, economic and other benefits. The biobased economy can generate new markets for agricultural producers, boost innovation in domestic manufacturing, and stimulate sustainable economic growth. These companies are developing plant biotechnologies that improve crop insect resistance, enhance crop herbicide tolerance, and facilitate the use of more environmentally sustainable farming practices. In animal agriculture, biotechnology is used to genetically engineer animals to improve their suitability for pharmaceutical, agricultural, and industrial applications.

The biobased economy and industrial biotechnology already contribute to millions of jobs and hundreds of millions of dollars in annual economic activity. And we are poised for accelerated growth in the 21st century. The Farm Bill energy title can unleash this potential growth, creating tens of thousands of more jobs in rural America and promoting billions of dollars of additional economic activity.