WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today urged Florida Gov. Rick Scott (R) to veto HB 4001/SB 320, which is anticipated to be passed by the Florida legislature next week and repeal the state’s Renewable Fuel Standard. BIO’s letter to Scott says that adoption of the legislation could chill investment not just in the state’s biofuel industry, but also in the larger biotechnology industry.
“Unfortunately, the legislation repealing Florida’s Renewable Fuel Standard (RFS) will lead to uncertainty about the state’s continued support of developing advanced biofuels and put future partnerships at risk,” BIO wrote. “This bill sends a message to the commercial scale advanced biofuel projects that have invested over $215 million in Florida and generated nearly 1,000 high skill new jobs in the state.”
“This legislation impacts not just biofuels and renewable fuel producers, but also the continued growth of the larger biotechnology sector, which is closely following the state’s commitment to policies that drive investment and development of new industries,” the letter continues. “Florida’s bioscience industry comprises more than 5,000 companies that employ more than 78,000 Floridians. The companies provide higher than average wages (about $30,000 above the average) to these well-educated and highly skilled workers. A significant number of those companies and people are focused on biotech solutions to improve agricultural productivity and growing new crops for energy. Undermining the state’s market for biofuels will discourage further research and development of technologies and crops within the state, potentially exporting investment and jobs.”
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.
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