By Jamie Martin
The National Corn Growers Association is calling on the federal government to modernize how the bioeconomy is measured in the United States. The organization recently submitted comments to the Office of Management and Budget, highlighting the importance of accurately tracking industries that depend on agricultural resources.
The bioeconomy includes products and technologies that use renewable biological materials to create fuel, chemicals, plastics, and other goods. As these industries continue to expand, NCGA says current classifications may not fully reflect their economic contribution.
“While growth in this sector has made significant contributions to rural America and the overall U.S. economy, measuring its true scope and value cannot be achieved without the industry-specific classifications,” said Ohio farmer and NCGA President Jed Bower. “Quantifying the impact of uses such as sustainable aviation fuel, bioplastics, renewable chemicals and other new uses helps show the potential economic impact of expanding these markets.”
The association believes accurate economic measurements provide valuable information to policymakers, investors, businesses, and analysts. Reliable data can support informed decision-making, encourage investment, and help identify new opportunities for growth.
Federal economic statistics are widely used to assess industry performance and evaluate market trends. NCGA argues that without proper classification systems, the impact of the bioeconomy may be underestimated.
The group also highlighted the importance of bioeconomy in rural America. Expanding markets for agricultural products can create jobs, support local businesses, and strengthen rural economies while encouraging innovation.
NCGA says updating federal classification systems would help provide a more complete picture of the role agriculture plays in renewable energy and sustainable product development. Improved tracking methods could also demonstrate the long-term benefits of investments in bio-based industries.
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Categories: National