USDA also marked the occasion by releasing two reports and announcing a National Institute of Food and Agriculture $10,000,000 investment in Oregon State University’s Global Hemp Innovation Center. The first report—An Economic Impact Analysis of the U.S. Biobased Products Industry: 2023 Update—shows that the biobased products industry has grown nationwide despite the impacts of the global COVID-19 pandemic. A second report, Hemp Research Needs Roadmap, reflects stakeholder input in identifying the hemp industry’s greatest research needs: breeding and genetics; best practices for production; biomanufacturing for end uses; and transparency and consistency.
“The Biden-Harris Administration is committed to supporting technological advances and innovations—biobased industries are a part of that,” Theresa Greenfield, USDA Rural Development State Director in Iowa, said at the event. “Across the state, these businesses provide new markets for farm commodities and add value to the Iowa economy.”