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

Washington, D.C. (March 9, 2017) – Biotechnology Innovation Organization (BIO) President & CEO Jim Greenwood today delivered testimony to a House Committee on Agriculture, Subcommittee on Commodity Exchanges, Energy and Credit, Hearing: The Next Farm Bill: Rural Development & Energy Programs.

Regarding the next Farm Bill, Greenwood stated:

“In a BIO report I’ve submitted for the record, I highlight companies from every state that are developing new technologies and products with support from each of the farm bill energy title programs.

“According to USDA, the bio-based industry contributed $393 billion to the U.S. economy and currently generates or supports 4.2 million jobs, and we’re adding hundreds of thousands more annually. Analysis from Fuels America shows the renewable fuels sector adds another 850,000 jobs, $185 billion in annual economic output, and $46 billion in wages for our farmers and our local workers.

“These numbers would be a fraction of their current size without the energy title. It provides what all investors say they need – a long-term, stable policy environment to help them make investment decisions.

“That stability is especially important in these tough times for our rural producers. Biofuels, renewable chemicals, and biobased products diversify demand for crops and crop residues. And the growing demand for employees to build and operate these new biorefineries is another way we’re revitalizing rural communities.”

About BIO

BIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org.

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