Bio-Era Releases New Report Analyzing the Impacts of Advanced Biofuels for the U.S. Economy

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A new report from bio-era analyzes how the growth of the next generation of advanced biofuels will impact four areas critical to the US economic recovery: (1) Jobs, (2) Investment, (3) Economic Growth, and (4) Energy Security. Bio-era's analysis concludes that to meet the production levels for advanced biofuels mandated by the Energy Independence and Security Act of 2007, more than 800,000 new jobs will be created, leading to as much as $150 billion in total additional output for the U.S. economy.

Bio Economic Research Associates (bio-era), a leading independent research and advisory firm providing analysis on the future of the global bio economy, today released a major new report entitled "U.S. Economic Impact of Advanced Biofuels Production: Perspectives to 2030." The report analyzes how the growth of next generation advanced biofuels will impact four areas critical to the U.S. economic recovery:

(1) Job creation
(2) Investment
(3) Economic growth
(4) Energy security.

The report includes a meta-analysis of nearly two dozen recent studies on the economics of advanced biofuels production as a basis for bio-era's analytic model of the economic impacts that would result from meeting the advanced biofuels production levels stipulated in the Energy Independence and Security Act of 2007. Access to the full report, including a description of the underlying model and assumptions, is available through the bio-era website (http://www.bio-era.net) or may be downloaded directly as a .pdf attachment to this press release.

Key bio-era findings:

  • Jobs. Direct job creation from advanced biofuels production could reach 94,000 by 2016 and 190,000 by 2022. Total job creation, accounting for economic multiplier effects, could reach 383,000 by 2016, and 807,000 by 2022.
  • Investment. Bio-era's analysis reveals that annual investment in advanced biofuels processing plants is expected to reach at least $3.2 billion by 2012, rising to $12.2 billion by 2022. Cumulative investment in new processing facilities between 2009 and 2022 is expected to total more than $95 billion.
  • Economic Growth. Total growth in annual US economic output resulting from direct expenditures in advanced biofuels production is expected to grow from $20 billion by 2012 to $150 billion by 2022.
  • Energy Independence and Security. Advanced biofuels production to meet levels required by the Energy Independence and Security Act of 2007 could reduce U.S. petroleum imports by approximately $5.5 billion in 2012, $23 billion in 2016, and $70 billion by 2022. The cumulative total value of avoided petroleum imports over the period 2010-2022 could exceed $350 billion.

The report is available as an attachment to this press release. Additional bound copies of the report are available through bio-era.

For more information, please visit http://www.bio-era.net or contact James Newcomb, 720-317-1019.

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James Newcomb

Stephen C. Aldrich

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