What is Biden's biotech plan and why is it important for the US economy

the Biden Administration is driving the first investments with a biotechnology plan
the Biden Administration is driving the first investments with a biotechnology plan
Khushbu Kumari

With the Science Act and CHIPS, the Biden Administration is driving the first investments with a biotechnology plan that will benefit the US on several fronts, including improving the supply chain, training and job creation.

President Joe Biden will sign an executive order on the National Biotechnology and Biomanufacturing Initiative for various products that will help the United States strengthen its supply chain and create new job opportunities, White House officials said.

“This initiative will create jobs at home, build stronger supply chains and lower prices for American families ,” states the project distributed by the Biden Administration.

The first benefit of the plan has a direct connection to employment. This is the BioPreferred program with which the government will have “an alternative to petroleum-based products.”

The plan is part of the recently passed CHIPS and Science Act , a bipartisan bill that secures more than $280 billion in investments in science and technology.

“He supports good-paying jobs for American workers ,” it says. “The Initiative will increase mandatory purchases of biologics by federal agencies, including through training and support for contracting officers.”

The follow-up on the products required by the government will be punctual through the Office of Management and Budget and the US Department of Agriculture.

The officials stressed that the Biden Administration seeks to strengthen the production of "everything that was invented” in the US , but will also promote the creation of new biotechnological products.

On Wednesday, the White House will host the Summit on the National Biotechnology and Biomanufacturing Initiative, where the agencies will announce investments and resources in different areas.

“Global industry is on the cusp of a biotech-driven industrial revolution. Other countries are positioning themselves to become the global resource for biotech products and solutions,” acknowledged a Biden Administration official on a call with reporters. "The United States has relied too heavily on foreign materials.”

He stressed that the Biden Administration sees in the bioeconomy an “American strength” and the best way to maintain the country's competitiveness , in addition to the fact that the plan will help meet the environmental objectives of this government.

This Monday, in Boston, Massachusetts, President Biden will highlight the importance of his plan, which will have benefits in several sectors, including the medical with the fight against cancer, the officials added.

“The impact of the initiative will be far-reaching. […] The president will comment on the power of biotechnology and biomanufacturing to end cancer as we know it,” he anticipated.

One of the officials emphasized supply chains, since the plan would allow them to be “reinvented”, away from chemicals that depend on oil.

It should be remembered that the COVID-19 pandemic and the war in Ukraine have complicated supply chains, also raising the costs of oil and gas, which has meant a challenge for Europe and the US, but with a global impact.

“This transition will create jobs across the United States and will mean we can keep prices low for consumers,” the official said.

Economy, education and employment

Another official emphasized the positive impact for the US as a manufacturer of biotechnology products and a promoter of new products .

“Our goal is to expand domestic biomanufacturing capacity so that inventions in the United States are made in the United States,” he said. “Biofabrication relies on local raw materials, so it will create a real impact in communities across the country.”

This will involve implementing education and training plans at community colleges and universities that serve minority populations.

We also seek to improve food security and drive agricultural innovation, including through new technologies that protect crops from disease, improve seeds and fertilizers, and feed made from cultured animal cells.

You may also like:

About | Terms of use | Privacy Policy | Cookie Policy