A report by USDA shows the biobased industry is generating substantial economic activity and jobs. According to the report, the industry has contributed $369 billion and four million jobs to the economy. USDA also announced additions to the BioPreferrred label. Ag Secretary Tom Vilsack said that allows companies to create new and innovative biobased products.
According to the Economic Impact of the report, the Biobased Product Industry report, each job in the biobased products industry is responsible for generating 1.64 jobs in other sectors of the economy.