WASHINGTON– President Joe Biden is launching a new initiative to encourage biotech production and research in the United States, the latest move from the White House to boost domestic industry.
Biden on Monday signed an executive order implementing the initiative and later, in remarks at the John F. Kennedy Presidential Library in Boston, he will explain how biotechnology can help fight cancer. On Wednesday, the Democratic president’s administration will host a summit and announce new investments from several federal agencies, according to a White House fact sheet.
The initiative will seek to boost biomanufacturing in pharmaceuticals but also in other industries such as agriculture, plastics and energy. A senior administration official did not say how much funding will be announced on Wednesday.
Biomanufacturing processes can program microbes to make specialized chemicals and compounds, the fact sheet says. Biofabrication can be used to manufacture alternatives to petroleum-based chemicals, plastics and textiles.
The executive order follows bipartisan legislation Biden signed last month that provided $52 billion to subsidize semiconductor production, the construction of new chip factories, and research and development in the United States.
The legislation was intended to reduce the US economy’s dependence on semiconductors made overseas, particularly in Taiwan, and to respond to China’s increased efforts to develop its own chip industry.
Biden touted the benefits of the semiconductor law on Friday, during a stop in Columbus, Ohio, where chip giant Intel opened a new $20 billion factory.
The administration official, who was not authorized to speak publicly and insisted on anonymity, said the White House wanted to support the manufacture of biotech products developed in the United States, rather than see American innovations produced abroad.
The official said that the administration aims to develop national biomanufacturing capacity and that other countries, particularly China, have invested aggressively in the sector, posing risks to state leadership and competitiveness. -United.