Job Spectrum

Fed tax policies should incentivize industrial deployment of advanced commercial biotechnologies, which can create roles, reduce dependence on petrol, and achieve greenhouse gas reductions. The Biotechnology Industry Organization today released a white paper on the expansion and roles potential of green chemicals and briefed Congressional staff on the commercial standing of commercial biotechnologies for algae applications, biobased products, and complicated biofuels.

Brent Erickson, executive vice chairman for BIO's Economic and Environmental Section, said "during the last twenty years, competitive advantage for petroleum-derived chemicals and plastics producing has shifted away from the U.S. , and therefore domestic work in the sector dropped. Biobased chemicals and plastics can supplement or replace a multitude of petroleum-based products, and the US has an important potential competitive advantage in their manufacture. Expansion of this industry can produce well-paying green roles across the U.S., just as complicated biofuel production.

" BIO's white paper, Biobased Chemicals and Products : A New Driver of U.S. Business Development and Green Roles , shows that even in its nascent state, the biobased chemicals and plastics industry accounts for over 5,700 direct roles and is likely accountable for over forty thousand roles economy wide. Total U.S. Work in the sector declined by twenty p.c over past 2 decades.A report commissioned by BIO, U.S. Business Impact of complicated Biofuels Production, projects that development of sophisticated biorefineries could create as much as 29,000 roles over the next few years.

"Erickson concluded, " Creativity in the chemical industry has been stagnant for years and commercial biotechnology is changing that. The US is a world figurehead in developing economic biotechnology for biofuels, biobased products, and green chemicals. Deployment of the technology can revive U.S. Industrial competitiveness in the chemical industry, make a contribution to replenished, tolerable commercial expansion, and create or save roles in the sector.

"BIO's offers for Congressional policy options include : 

Fund development and deployment programs for biobased products and replaceable speciality chemicals ; Provide product parity and early-stage support for biobased products thru both a production and an early-stage RD tax break ; Open existing DOE and USDA loan guarantee programs to biobased product projects ; Open existing cellulosic biofuels tax subsidies to algae-based biofuels and extend the credits thru 2017 ; Double funding for U.S. Dept of Agriculture programs to employ cellulosic feedstocks ; include suitability for value-added biobased materials, products and chemicals ; Fund the reverse auction for cellulosic biofuels already incorporated in law.