In June 2015, the USDA BioPreferred® program released a report that shows the U.S. biobased industry is generating substantial economic activity and American jobs. The report - "An Economic Impact Analysis of the U.S. Biobased Products Industry" - is the first to examine and quantify the effect of the U.S. biobased products industry from an economics and jobs perspective.
A new, companion infographic now displays key findings from the report using compelling visuals. As showcased in the infographic above, in 2013 the U.S. biobased products industry contributed $369 billion to the American economy and contributed four million jobs.
The June report builds on the "Why Biobased?" report released by the USDA in October 2014. Estimates are that the use of biobased products currently displaces about 300 million gallons of petroleum per year - equivalent to taking 200,000 cars off the road.
To learn more about the viability of the U.S biobased industry and bioeconomy read the full BioPreferred Economic Impact Report.