A new report that shows the U.S. biobased industry adds $369 billion and 4 million jobs to the American economy. This news release from the U.S. Department of Agriculture (USDA) says that number is poised to grow under changes in the 2014 Farm Bill.

“This report is the first to examine and quantify the effect of the U.S. biobased products industry from an economics and jobs perspective. Before, we could only speculate at the incredible economic impact of the biobased products industry. Now, we know that in 2013 alone, America’s biobased industry contributed four million jobs and $369 billion to our economy,” [Agriculture Secretary Tom] Vilsack said. “Today, we are also adding to the number of innovative products carrying USDA’s BioPreferred® label and expanding options for our nation’s biorefineries. This means small businesses and global companies alike can continue to harness the power of America’s farms and forests to create new and innovative biobased products that are used all around the world.”

According to the Economic Impact of the Biobased Product Industry report, each job in the biobased products industry is responsible for generating 1.64 jobs in other sectors of the economy. In 2013, 1.5 million jobs directly supported the biobased product industry, resulting in 1.1 million indirect jobs in related industries, and another 1.4 million induced jobs produced from the purchase of goods and services generated by the direct and indirect jobs.

This report builds on the “Why Biobased?” report released by the USDA in October 2014.