Encompassing a broad range of technologies, the ag bioeconomy uses renewable, biobased materials as inputs to make chemicals and products such as fuels, manufacturing materials, and consumer goods. The industry presents an opportunity to tap into the full potential of the American agriculture sector, support supply chain resiliency, and help address key environmental issues.
“Advancing the bioeconomy is one of the most meaningful climate solutions on the table today,” says PBPC Executive Director Jessica Bowman. “This industry is meeting consumer demand for climate solutions in a way that is accessible and does not upend our current supply chain infrastructure.”
The U.S. Department of Agriculture estimates that the use of biobased products reduces greenhouse gas emissions by an estimated 12.7 million metric tons of CO2 equivalents per year – that is equivalent to taking over 2.7 million cars off the road for a year. “By harnessing the power of life sciences, we’re removing fossil fuels from the equation for both cars and emissions-heavy industries that are more difficult to decarbonize,” says Growth Energy CEO Emily Skor.
Green jobs
“Innovations in agriculture are critical for combatting climate change, helping create green jobs, and providing Americans with healthy, affordable food and renewable materials for a variety of high value products,” says Senator Tina Smith (MN-D), member of the U.S. Senate Committee on Agriculture,
Nutrition, and Forestry.
The domestic biobased products industry adds over $470 billion of value to the US economy and supports 4.6 million jobs. Between 2013 and 2017, the industry expanded more than 27% in terms of value added; in 2021, nearly half of Americans report purchasing plant-based products monthly.
For every biobased job created, 2.79 additional jobs are generated in other sectors of the U.S. economy. Between 2013 and 2017, 1.65 million jobs directly supported the biobased product industry, resulting in 2.96 million spillover jobs. Spillover jobs mean they were created in related industries to support the purchase of goods and services from the biobased products industry.
Priorities
Looking ahead, the Coalition’s policy priorities also include supporting market transparency and visibility initiatives that facilitate common ag bioeconomy nomenclature and measurement. The Coalition is also focused on advocating for policies that promote ways in which government entities can support
bioeconomy research and development.
Founding members of the Ag Bioeconomy Coalition include: American Farm Bureau Federation (AFBF); American Soybean Association (ASA); Corn Refiners Association (CRA); Growth Energy; National Association of State Departments of Agriculture (NASDA); National Corn Growers Association (NCGA); National Hemp Association; and Plant Based Products Council (PBPC).
For more information, see the link below.
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