BIO approves of the Senate Agriculture Committee's reauthorisation of farm programs

The Biotechnology Industry Organization (BIO) have thanked members of the Senate Agriculture Committee for reauthorizing farm programs that are valuable to the biotechnology industry and ensuring they have the funding to work.

'The Farm Bill's energy title and proposals to support biomanufacturing will help the United States maintain its competitive leadership in biotechnology, manufacturing and agriculture – ensuring that what we grow here in the United States can be used to make new products here and create jobs here,' says BIO President & CEO Jim Greenwood.

'These programs would provide the highest return on taxpayer dollars and ensure the future of emerging energy and renewable chemical markets, if the bill is passed by the full Congress. These programs already have helped renewable energy companies unlock private capital for construction of advanced biorefineries, something that has been extraordinarily difficult during the recent economic downturn,' he continues.

He suggests that over 150,000 acres of underutilized farmland has been put into production or next generation energy crops due to such incentives. 'The programs have further ignited an explosion of innovation and early commercialization of renewable chemicals here in the United States. Overall, the programs have demonstrated a high rate of success,' he concludes.