Biotechnology Industry Organization (BIO)

BIO Applauds the Intent to Create a National Bioeconomy Blueprint


Initiative Can Help Drive Job Growth and Innovation

WASHINGTON--(BUSINESS WIRE)-- Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement on the Obama Administration's intent to create a National Bioeconomy Blueprint:

“BIO is extremely pleased that President Obama has committed to create a National Bioeconomy Blueprint to leverage the U.S. biotechnology industry to spur growth in our nation’s economy. The biotech sector directly employs 1.42 million workers and supports an additional 6.6 million jobs nationwide. With the Administration’s support, the biotech sector can expand its role as an economic engine for growth – creating high-wage, high-skilled jobs that offer the most promise to cure disease, feed the hungry, clean our environment and provide renewable sources of energy.

“Once unveiled, the National Bioeconomy Blueprint can leverage investments across the country in biotechnology research and development to create jobs and spur biological innovation on a grand scale. This effort will help preserve U.S. leadership in cutting-edge research and technology and maintain our nation’s competitiveness in an increasingly global marketplace. The announcement that the Administration is seeking input for stakeholders pertaining to the creation of the National Bioeconomy Blueprint serves as a testament to the Administration’s commitment to spurring 21st century innovation and ingenuity.

“BIO recognizes that the creation of a National Bioeconomy Blueprint is just the latest effort by the Obama Administration to support biotech research and development. The Administration made a significant investment in more than 3,000 emerging biotechnology companies working to find cures to diseases like cancer, Parkinson’s and Alzheimer’s through the Therapeutic Discovery Project (TDP) tax credit. We also greatly appreciate the President’s stated commitment to reducing unnecessary regulation and his strong support for the continued development of advanced biofuels, investment in research and development and the creation of new tools to aid small companies with promising science.

“We look forward to accomplishing the shared goal of harnessing the potential of the biotechnology industry to grow the nation’s economy while producing innovative new medical therapies, renewable sources of energy and high-yield crops.”

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 BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.

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