Jobs at MN Bioindustrial Cos. Could Exceed 13,000 by 2025
The number of jobs at bioindustrial processing company headquarters in Minnesota has the potential to exceed 13,000 by 2025, according to a report released Wednesday by the BioBusiness Alliance of Minnesota-an organization whose mission is “to foster and cultivate the long-term viability of the state's bioscience sector.”
According to the report, Minnesota's mix of natural resources, highly-trained workers, and research and development capabilities position it to be at the leading edge in growth of the international advanced biofuels and biobased chemicals industries.
In addition, the state is home to a number of large companies in related industries-including 3M, Cargill, Ecolab, and H.B. Fuller-that can help smaller bioindustrial processing companies distribute and sell products to end users, the report said.
Minnesota already has an emerging cluster of bioindustrial processing companies that have collectively added more than 2,000 jobs in the state, according to the report.
However, continued industry growth can only be sustained through the proactive development of an organization that would serve as a strong voice for the industry and would focus solely on the industry's growth, according to BioBusiness Alliance. Its report suggests that educating investors and financial institutions about the opportunities in the industry would ensure that companies receive adequate financing. The study also said that improvements in the regulatory environment-including speeding up the approval process for bringing a product to market-would also help the industry's growth.
The BioBusiness Alliance collaborated with the BioIndustrial Partnership of Minnesota and the Great Plains Institute to compile the report.
“Minnesota is in a perfect position to lead growth of the advanced biofuels and biobased chemicals industry,” Dale Wahlstrom, president and CEO of LifeScience Alley and The BioBusiness Alliance of Minnesota, said in a statement. “Our organizations will continue to focus on the development of this ecosystem, and the advancement of policy and infrastructure necessary to maintain our leading edge.”