The report also found that the average industrial bioeconomy worker took home $133,600 in annual compensation and that each direct job in the sector generates or supports more than 11 additional jobs through indirect means, such as the purchase of raw materials, including agricultural commodities, and other inputs.
“Relative to other industrial sectors, the extended domestic supply chain of the U.S. industrial bioeconomy generates outsized secondary economic benefits,” wrote the authors. “This is especially true of domestic employment, where each direct job supports 11.08 additional indirect and induced jobs (total employment multiplier of 12.08). For comparison, the employment multiplier for the sector that includes solar photovoltaics is 6.50 and the multiplier for the sector that includes wind turbines is 3.73.”
The report was commissioned by a coalition of leading innovators, manufacturers, and trade associations committed to expanding the U.S. bioeconomy. Supporters include the Association of Equipment Manufacturers, Clean Fuels Alliance America, National Corn Growers Association, Growth Energy, Renewable Fuels Association, ADM, Aemetis, Bayer, Bunge, Marquis Energy, Novonesis, and POET.
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