New National Bioeconomy Blueprint Can Help Unleash the Promise of Biotech to Drive American Innovation, Promote Job Growth and Continue U.S. Competitiveness

Washington, D.C. (April 26, 2012) – Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement regarding the Obama Administration's new National Bioeconomy Blueprint issued today:

“BIO applauds President Obama’s leadership in creating a National Bioeconomy Blueprint and identifying the bioeconomy as a priority for his Administration.  We appreciate the President’s recognition of the need to clear the path for American innovation and ingenuity and unleash the tremendous promise of biotechnology to help solve many of the biggest challenges facing our nation today and foster economic growth throughout the United States. 

“Already, biotechnology is enabling patients living with debilitating diseases such as cancer, diabetes and Parkinson’s - and all American families - to have a higher quality of life, in a healthy and safe environment.  As the new report notes, ‘The U.S. bioeconomy is all around us: new drugs and diagnostics for improved human health, higher-yielding food crops, advanced biofuels to reduce dependency on oil, and biobased chemical intermediates.’

“The report’s high-level goals are consistent with many of BIO’s primary goals, including supporting translational research, reducing regulatory barriers for biotech products and emerging technologies, improving coordination across federal agencies, reforming the U.S. Food and Drug Administration, and expanding the bioeconomy workforce.  We look forward to hearing more about specific proposals for accomplishing these goals.

“The biotech sector directly employs 1.42 million workers and supports an additional 6.6 million jobs nationwide.  With the Administration’s support, and by reducing red tape, paperwork and unnecessary delays, 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, create a healthier environment and develop cleaner fuels that lessen our reliance on foreign oil.  

“We look forward to working with the Administration to accomplish our shared goal of harnessing the potential of the biotechnology industry to grow our nation’s economy while producing cures and advancing medicine, developing cleaner sources of energy and improving agriculture to feed the growing world population.”

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