A brief article about the renewal of the Farm Bill, the USDA BioPreferred program, and some of the implications of its passage and the larger BioEconomy efforts.

The economic potential for renewable chemicals and biobased products is significant. A recent report by Nexant, prepared for the USDA, estimates an annual economic boost for the U.S. of $775 million by 2017, through production of renewable chemicals. That potential grows to $3 billion in annual economic activity by 2022, which would more than 19,000 new jobs.

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