Jul 29, 2021USDA releases economic impact view of the US bio-based products industry
USDA Deputy Under Secretary for Rural Development Justin Maxson on July 29, the 10th anniversary of the creation of the USDA’s Certified Biobased Product Label, unveiled an Economic Impact Analysis of the U.S. Biobased Products Industry.
The report demonstrates that the bio-based industry is a substantial generator of economic activity and jobs, and that it has a significant positive impact on the environment.
“Bio-based products are widely known for having a substantially lower impact on the environment compared to petroleum-based and other non-biobased products,” Maxson said. “Beyond being more responsible alternatives, these products are produced by an industry responsible for nearly 5 million jobs in the United States alone. Under the Biden-Harris Administration, USDA is playing a key role in labeling bio-based products so that consumers can make educated decisions for themselves, their families and their places of work.”
- Supported 4.6 million American jobs through direct, indirect and induced contributions.
- Contributed $470 billion to the U.S. economy.
- Generated 2.79 jobs in other sectors of the economy for every biobased job.