Bioproduction stimulates the US economy – NAM

A new report shows that biomanufacturing plays an important role in a strong U.S. economy.

What is this: Industrial bioproduction includes the conversion of renewable biomass into materials such as fertilizers, bioplastics and biofuels, among others, as well as research and development of other materials and technologies used in modern bioproduction.

Numbers: According to a report published by the Equipment Manufacturers Association titled “The Economic Impact of the US Industrial Bioeconomy”, the US industrial bioeconomy supported nearly 644,000 domestic jobs, contributed $210 billion to the US gross national product and generated $49 billion in wages last year .

Map: Biomanufacturing is also a major contributor in states across the country. The report lists the five states with the highest economic performance in biomanufacturing: Illinois, Iowa, California, Nebraska and Minnesota.

• While the biomanufacturing industry has shown strength in these states, it has also had a particularly significant impact on direct and total employment in Georgia and Ohio.

House Advantage: The biomanufacturing industry provides particular benefits to the U.S. economy because it creates domestic jobs that cannot be offshored.

• “A significant competitive and policy advantage that jobs in the industrial bioeconomy offer is their connection to U.S. soil, literally and figuratively,” the report said. “(T)hese jobs are here and they stay in the U.S.”

Multiplier effect: In addition to creating jobs directly in the United States, the biomanufacturing industry also supports a robust U.S. supply chain, generating more jobs in more industries.

• “Compared to other industrial sectors, the expanded domestic supply chain of the U.S. industrial bioeconomy generates enormous secondary economic benefits,” the report states. “This is especially true for home-based employment, where each direct job provides 11.08 additional indirect and induced jobs.”