Biobased Economy Indicators

What is the Biobased Economy Indicators (BEI) project?

Section 948 of the Energy Policy Act of 2005 states that, "Not later than 2 years after the date of enactment of this Act, the Secretary (of Agriculture) shall submit to Congress an analysis of economic indicators of the biobased economy."   The U.S. Department of Agriculture has entered into a cooperative agreement with CIRAS to develop and complete this industry analysis.  The following tasks are being undertaken as part of this project:

• Task 1 – Develop a list of economic indicators of the biobased economy
• Task 2 – Gather data on key economic indicators
• Task 3 – Explore relationships between key economic indicators
• Task 4 – Propose future data requirements

What are biobased indicators?

Indicators of the biobased economy will be selected based on sound economic criteria, accurately reflect biobased economic activity, and be well understood by stakeholders.  A preliminary list of economic indicators was obtained from USDA.  This list will be refined through discussions with the CIRAS team and by examining the recent USDA report U.S. Biobased Products: Current Industry Status and Projections through 2025.

What are the benefits of BEI?

The results of this work may be used by federal and state governments to assist in the development of policies and legislation and by industry to assist in formulating business strategies.

What can CIRAS do for my company?

The CIRAS bioindustry team can

• record industry and government inputs on biobased economic indicators
• help organizations utilize program results for strategic planning
• help improve industry data collection related to economic performance

What is my next step?

Download copy of Iowa State University Working Paper Biobased Products Economic Indicators – J. Miranowski et.al.

Contact the following staff members to see what CIRAS can do for you: