BIO is the champion of federal and state policies that help build the biobased economy, which comprises a value chain from agriculture, through industrial biotechnology, to the manufacture of consumer goods.
Biobased manufacturing generates measurable economic benefits, including new markets for agricultural producers, increased innovation in domestic manufacturing, and sustainable economic growth. Market studies indicate that the biobased economy and industrial biotechnology are poised for accelerated growth in the 21st century. To make our case to policymakers that state and federal action can unleash this growth, BIO today launched a new white paper, The Biobased Economy: Measuring Growth and Impacts.
Current expectations for ongoing growth in industrial biotechnology and biobased manufacturing are built on the abundance and favorable costs of renewable feedstocks, the successful commercialization of pioneer products, and new investments in production capacity. Industrial biotechnology’s future potential is also bolstered by the intensifying pace of research and development in biotechnology, new developments in synthetic biology and gene editing, and recent experience in engineering commercial scale industrial biotech processes.
BIO’s Brent Erickson, executive vice president of the Industrial & Environmental Section, launched the new white paper with a column in Biofuels Digest this morning.