The 2012 Farm Bill cleared the Senate Agriculture Committee this week, and includes Senator Debbie Stabenow’s “Grow It Here, Make It Here” initiative, which will provide bio-based manufacturers access to capital, strengthen market opportunities for bio-based products, and spur commercialization of agricultural innovations.
The initiative will benefit the ag biotech sector by increasing investment in bio-manufacturing processes, such as the production of biofuels, that require inputs of staple crops like corn and soybeans. Additionally, the initiative’s implementation will lead to job creation in the agricultural sector, contributing to economic rejuvenation in several states. Read more.
U.S. Senator Debbie Stabenow announced her “Grow it Here, Make it Here” plan will encourage bio-based manufacturing in Michigan by giving tax cuts to businesses who invest in bio-manufacturing or purchase equipment to manufacture bio-based products. If adopted, the plan will lead to heightened investment and job creation.
She joined with President Obama and U.S. Secretary of Agriculture Tom Vilsack to call for a 50% increase in government purchases of new bio-based products to boost America’s rural economy through innovative agriculture.
Secretary Tom Vilsack said, “The companies that manufacture these goods employ about 100,000 Americans - many of them in rural communities - by marrying together two important economic engines: agriculture and manufacturing.” Read more.