Biobased industry growing, but needs more federal help, report says

Production of biofuels and biobased products such as plant-derived plastics already support 4.2 million jobs, but the industry's future growth rate depends in part on oil prices and the availability of new government incentives, according to a study commissioned by the Agriculture Department. The study, authored by experts at Duke University and North Carolina State University, also said that the federal government itself has been slow to use the products despite USDA's efforts to promote them. The job estimate includes 1.6 million jobs directly involved in the biobased sector. Another 2.6 million jobs are indirectly created in its supply channels or through additional purchasing by households that benefit from the industry's impact on employment and production. The industry added $393 billion to the economy in 2014, including $127 billion from sales, the study found. USDA's definition of biobased products excludes livestock, food, feed and pharmaceuticals.