Jobs and growth
Industrial Biotechnology is one of Europe’s strengths. It enables the EU to manufacture over half of the world’s enzymes which help deliver solutions to many of the world’s grand challenges, including using resources more efficiently, reducing CO2 emissions, producing healthy and nutritious food and improving our energy security.
The European bioeconomy, enabled by industrial biotechnology, already employs over 22 million people, making up around 9% of the EU’s total workforce.
But industrial biotechnology has the potential to add much more in terms of value and competitiveness to sectors operating throughout the bioeconomy, from primary production right through to consumer goods.
However, a lack of long-term political commitment and incentives means that investment and development in this area is increasingly migrating to other regions, such as the United States, where more supportive measures and long-term policy support are more consistent; taking potential for the creation of jobs and growth in Europe with it.