WASHINGTON--(BUSINESS WIRE)--

With strong policy direction, the United States can leverage its leadership in biotechnology, agricultural productivity and manufacturing innovation to build a biobased economy. The Biotechnology Industry Organization (BIO) today thanks Sen. Debbie Stabenow (D-Mich.) for announcing additional policy proposals for the Grow It Here, Make It Here initiative.

BIO President & CEO Jim Greenwood said, “Building a biobased economy in the United States will generate good jobs in manufacturing, agricultural production and forestry, transportation and distribution, and construction. Biomanufacturing opportunities can help revitalize traditional manufacturing regions, such as Michigan, and rural areas, creating a healthy, sustainable biobased economy. The biobased product industry already employs more than 50,000 people in the United States and can generate tens of thousands more in the next five years.

“Renewed economic growth and security depends on producing affordable domestic alternatives to all of the products that come from foreign oil. Senator Stabenow’s Grow It Here, Make It Here initiative will help bio-based manufacturers access vital capital, strengthen market opportunities for biobased products, and spur commercialization of agricultural and industrial biotech innovations. Technology neutral support for all biobased products, renewable chemicals, and biofuels such as this initiative will help build a robust biobased economy.”

BIO’s report, “Biobased Chemicals and Products: A New Driver for Green Jobs,” documents the potential for job creation through biomanufacturing and is available on the BIO.org website.

About BIO

BIO represents more than 1,100 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. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtech NOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtech NOW.

Upcoming BIO Events

World Congress on Industrial Biotechnology & Bioprocessing
April 29-May 2, 2012
Orlando, FL

2012 BIO International Convention
June 18-21, 2012
Boston, MA

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BIO Applauds Sen. Stabenow’s Grow It Here, Make It Here Initiative