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BIO Applauds Support for Innovation in Trump Administration Task Force Report

“Biotechnology Sector is a Driver of the ‘Fourth Industrial Revolution’”

Washington, D.C. (January 9, 2018) – The Biotechnology Innovation Organization (BIO) is applauding a new report from the Interagency Task Force on Agriculture and Rural Prosperity, which encourages growth and continued innovation in America’s biotechnology sector.

The report was presented yesterday to President Donald Trump by Secretary of Agriculture Sonny Perdue during the American Farm Bureau Federation’s Annual Convention in Nashville. 

“Globally, the biotechnology sector is a driver of the ‘fourth industrial revolution,’ and presents an incredible opportunity for American farmers and rural communities to thrive at the forefront of innovation,” the report states.

“BIO applauds the report and agrees with the broad recommendation to leverage U.S. investments in technological innovation, improve access to capital in rural communities, and increase market opportunities,” said BIO’s President & CEO Jim Greenwood.

“As the report states, scientific advancements in biotechnology have produced a thriving and successful industrial sector aimed at addressing our world’s most pressing challenges,” added Greenwood. “Further innovations in genome editing technology will unlock even more promises in agriculture production, animal health and welfare, biofuels and renewable chemical development, and biobased manufacturing.”

Greenwood also welcomed recommendations contained in the report, such as the need for policies that promotes economic growth, innovation, competitiveness and job creation.

“As recommended in the report, BIO supports a more harmonized Coordinated Framework for the regulation of biotechnology, a tax code that encourages investment in the biotech sector, and government-backed communications to further public awareness of biotech products,” Greenwood said. “We also need to integrate a recognition for the importance of science and technology into the appropriate Farm Bill titles.”