NCGA Urges Revised Codes to Measure the Growing Bioeconomy

The National Corn Growers Association filed comments this week with the Office of Management and Budget encouraging the agency to reconsider updates recommended by one of its committees to more directly capture the economic impact of the emerging bioeconomy.

"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," Ohio farmer and NCGA President Jed Bower said in the comments. "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 continued growth of the U.S. bioeconomy depends on the ability to accurately measure it to provide important signals to policymakers, investors and analysts. Industries rely on federal statistics from OMB for market research, measuring their economic impact and identifying new market opportunities.

Read the Letter