Business & Economy
Bio-industry seeks federal, state boost
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By XINJUAN DENG
Capital News Service
LANSING – Bio-based industry would get a better chance to prosper under a proposal to expand throughout the state in ways that would grow agriculture and reduce dependence on oil, according to an industry group. U.S Sen. Debbie Stabenow, D-Lansing, who chairs the Agriculture Committee, has called for a “Grow it Here, Make it Here” policy to advance Michigan’s bio-based manufacturing industry. Stabenow said, “We are at the forefront of bio-based manufacturing, and my initiatives will help businesses who want to invest and create new jobs here in America.”
Stabenow’s plan includes more labeling of bio-based products to encourage government purchases and increasing customers’ awareness. More than 540 products made by 90 Michigan companies already have such labels. She also called for resources to spur the commercialization of agricultural innovations, increase access to bio-based manufacturers and give a 30 percent tax credit for Michigan bio-companies that invest in new facilities.