{"id":31842,"date":"2016-01-26T07:20:14","date_gmt":"2016-01-26T06:20:14","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=31842"},"modified":"2016-01-25T13:36:33","modified_gmt":"2016-01-25T12:36:33","slug":"corridor-releases-major-renewable-chemicals-report-calls-on-legislature-to-act","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/corridor-releases-major-renewable-chemicals-report-calls-on-legislature-to-act\/","title":{"rendered":"Corridor releases major renewable chemicals report; calls on Legislature to act"},"content":{"rendered":"<p><strong>A new white paper released today has found that Iowa is better-positioned than many domestic\u00a0competitors to capitalize on the next frontier of bioprocessing in the United States. The report,\u00a0titled \u201cBiobased Chemicals: The Iowa Opportunity,\u201d was released by Iowa\u2019s Cultivation Corridor\u00a0and the Iowa Biotechnology Association. The report details how statewide economic\u00a0development incentives can address the unique needs of the budding industry and allow Iowa to\u00a0emerge as a leader in biorenewable chemical investment and job creation in coming years. The\u00a0findings of the report were released at a news conference at the Iowa State Capitol on\u00a0Thursday.<\/strong><\/p>\n<p>Among the report\u2019s findings:<\/p>\n<ul>\n<li>First generation biofuels have been important economic drivers for the state of Iowa. Ethanol production alone in Iowa accounts for $2.23 billion per year in state GDP and supports more than 8,693 jobs.<\/li>\n<li>At least five potential bio-based chemical production projects were identified through an industry interview process as part of the report. Representatives of each project indicated a biorenewable chemical production tax credit would be fundamental to the ultimate location decision in or outside Iowa.<\/li>\n<li>The U.S. market for chemicals is more than $250 billion per year<\/li>\n<li>More than 50,000 jobs in bio-based chemicals and materials are projected to be created in the United States by 2020.<\/li>\n<li>Using income tax data, the payback period on the $61.7 million the state invested in the ethanol industry was just two years.<\/li>\n<\/ul>\n<p>\u201cIowa is very well-positioned to capitalize on the next frontier of bioprocessing in the United\u00a0States, which will help our state economy grow, create jobs and position us as a worldwide\u00a0leader,\u201d said Brent Willett, Executive Director of the Cultivation Corridor. \u201cWe can and must\u00a0capitalize on this opportunity, and we\u2019ve got to work together to do so.\u201d<\/p>\n<p>\u201cThe opportunity exists to be even more of a leader in this space due to our ability to bring the\u00a0right people to the table,\u201d said Joe Hrdlicka, Executive Director of the Iowa Biotechnology\u00a0Association. \u201cTo take the next step, we need support from our State Legislature in the form of a\u00a0statewide economic development incentive tailored to address the unique needs of the\u00a0burgeoning biorenewables industry.\u201d<\/p>\n<p>To view the full report and the executive summary, visit <a href=\"http:\/\/www.cultivationcorridor.org\/biochemreport\" target=\"_blank\">CultivationCorridor.org\/BiochemReport<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h3>About Iowa\u2019s Cultivation Corridor<\/h3>\n<p>Focused on further developing and marketing the world-renowned bioeconomy in Central Iowa, Iowa\u2019s\u00a0Cultivation Corridor is building on a rich history of innovation to accelerate value-added agriculture business\u00a0development by attracting companies, talent and capital from across the globe to the state. Representing a\u00a0diverse public-private coalition of stakeholders including the Greater Des Moines Partnership, Ames Chamber\u00a0of Commerce, Iowa State University, non-profits and private sector companies from across the region and\u00a0state, the Cultivation Corridor is one of the nation\u2019s foremost cluster-based economic development\u00a0organizations. For more information, visit CultivationCorridor.org.<\/p>\n<h3>About IowaBio<\/h3>\n<p>Since 1994, the Iowa Biotechnology Association has provided benefits and services to promote the interests\u00a0and growth of the life sciences industries in Iowa. We are a non-profit, membership-based organization with a\u00a0diversified membership including industry companies from all segments of biotechnology, universities &amp;\u00a0colleges, state &amp; federal associations, as well as numerous service &amp; support companies. Our Association\u00a0seeks to promote the success and growth of biotech-based business in Iowa, ultimately securing our strong\u00a0biotech economy while growing our business &amp; increasing our influence nationally and around the globe. For\u00a0more information, visit IowaBio.org.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new white paper released today has found that Iowa is better-positioned than many domestic\u00a0competitors to capitalize on the next frontier of bioprocessing in the United States. The report,\u00a0titled \u201cBiobased Chemicals: The Iowa Opportunity,\u201d was released by Iowa\u2019s Cultivation Corridor\u00a0and the Iowa Biotechnology Association. The report details how statewide economic\u00a0development incentives can address the unique [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[6843,5714,5796],"supplier":[8426,9934],"class_list":["post-31842","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-biochemicals","tag-biofuels","tag-biotechnology","supplier-cultivation-corridor","supplier-iowa-biotechnology-association"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/31842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=31842"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/31842\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=31842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=31842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=31842"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=31842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}