USDA’s new report “Why Biobased?” is the first comprehensive federal quantification of the job opportunities and other economic benefits of the growing biobased products and renewable chemical industry. The Biotechnology Industry Organization today thanked Agriculture Secretary Tom Vilsack for supporting the research and writing of the report.
Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, noted, “The bioeconomy is rapidly growing, creating new economic opportunities and providing well-paying jobs for tens of thousands of Americans. By 2025, employment in the renewable chemical sector could represent approximately 20 percent of all U.S. chemical jobs.
“USDA’s new report on opportunities in the emerging bioeconomy is an important first step in quantifying those economic impacts, and we thank the authors of the report. We encourage USDA to continue to develop an economic impact model that will identify additional opportunities and track the growth of the bioeconomy.”
Key data points: The growth forecast = 5.8% annually for the next 7 years. Scroll below to get more insights. This market report covers Trends, opportunities and forecasts in zero-emissions mobile solar lighting tower market to 2031 by type (manual lifting and electric lifting), application (mining operations, road and building construction, emergency rescue, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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