An Economic Impact Analysis of the U.S. Biobased Products Industry: A Report to the Congress of the United States of America

Jay S. Golden, Robert B. Handfield, Jesse Daystar and T. Eric McConnell

No 342853, USDA Miscellaneous from United States Department of Agriculture

Abstract: Excerpts from the Executive Summary: This report was prepared for the U. S. Department of Agriculture (USDA) BioPreferred® program and the Congress of the United States of America as mandated in Section 9002 of the 2014 Farm Bill (the Agricultural Act of 2014; P.L. 113-79). As presented, this report seeks to answer the six following important questions regarding the contributions of the biobased products industry in the United States: (i) the quantity of biobased products sold; (ii) the value of the biobased products; (iii) the quantity of jobs created; (iv) the quantity of petroleum displaced; (v) other environmental benefits; and (vi) areas in which the use or manufacturing of biobased products could be more effectively used, including identifying any technical and economic obstacles and recommending how those obstacles can be overcome. The seven major overarching sectors that represent the U.S. biobased products industry’s contribution to the U.S. economy are: Agriculture and Forestry -- Biorefining Biobased Chemicals -- Enzymes -- Bioplastic Bottles and Packaging -- Forest Products – Textiles. This report specifically excludes the following sectors: energy, livestock, food, feed, and pharmaceuticals.

Keywords: Crop Production/Industries; Environmental Economics and Policy; Labor and Human Capital; Land Economics/Use; Marketing; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 128
Date: 2015-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:usdami:342853

DOI: 10.22004/ag.econ.342853

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