Biden Executive Order aims to improve US biomanufacturing
President Biden signed an executive order Monday creating a National Biotechnology and Biomanufacturing initiative aimed at domestically producing new technology invented in the United States.
The White House contends the U.S. is too reliant on foregn materials and production and that other nations are positioning themselves to be leaders in the sector.
So what exactly does this technology do? The White House says biomanufacturing can be used to make just about anything needed for daily life including plastics, fuels, and medicines. It can be used as an alternative to petro-chemical production.
A Senior administration official outlined the economic implications saying QUOTE: “engineering biology holds the potential to be used in manufacturing industries that account for more than one third of global output. That’s equivalent to almost $30 trillion in terms of value.”
The initiative will:
- Grow Domestic Biomanufacturing Capacity
- Support Research and Development
- Expand Training and education to develop a skilled workforce.
- Streamline the regulatory landscape in BioTech
The President will also give a speech at the John F Kennedy Library and Museum in Boston this afternoon highlighting his Cancer Moonshot plan. He will highlight quote “the power of biotechnology and biomanufacturing to end cancer as we know it.” Straight from DC, I’m Ray Bogan