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Biden to launch latest support for U.S. biotech production

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US President Joe Biden speaks with reporters before boarding Air Force One from Andrews Air Force Base in Maryland on September 12, 2022. – Biden is travelling to Boston to deliver remarks on his Bipartisan Infrastructure Law, in addition to the Cancer Moonshot.

Mandel Ngan | AFP | Getty Images

President Joe Biden is launching a latest initiative to encourage biotech production and research within the U.S., the most recent move by the White House to spice up domestic industry.

Biden on Monday signed an executive order implementing the initiative and later, in remarks on the John F. Kennedy Presidential Library in Boston, will address how biotech might help fight cancer. On Wednesday, the Democratic president’s administration will host a summit and announce latest investments from several federal agencies, in keeping with a White House fact sheet.

The initiative will seek to spice up biomanufacturing in pharmaceuticals but additionally in other industries resembling agriculture, plastics and energy. A senior administration official would not say how much funding might be announced Wednesday.

Biomanufacturing processes can program microbes to make specialty chemicals and compounds, the actual fact sheet said. Biomanufacturing may be used to make alternatives to oil-based chemicals, plastics and textiles.

The chief order follows bipartisan laws Biden signed last month that provided $52 billion to subsidize the production of semiconductors, construction of recent chip plants and research and development in the US.

That laws was intended to cut back the U.S. economy’s reliance on semiconductors made overseas, particularly in Taiwan, and to reply to greater efforts by China to develop its own chip industry.

Biden touted the advantages of the semiconductor law on Friday, in a stop in Columbus, Ohio, where chip giant Intel has broken ground on a latest $20 billion factory.

The administration official, who wasn’t authorized to talk publicly and insisted on anonymity, said the White House desires to support manufacturing biotech products which are developed within the U.S., relatively than seeing American innovations produced abroad.

The official said that the administration was aiming to expand domestic biomanufacturing capability and that other countries, especially China, have been aggressively investing within the sector, posing risks to U.S. leadership and competitiveness.

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