Analysis of agricultural biotechnolgy firms in the United States with regard to product development and financial resources
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Date
2000
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The Ohio State University
Abstract
Agricultural biotechnology is a growing industry that creates many benefits. Through plant and animal science, this industry improves efficiency and reduces costs for agriculture by researching genetics of plants and animals and creating changes in the DNA to produce higher quality, higher production crops and livestock. Biotechnology also helps the agricultural industry by improving food processing, bioremediation, and biomass conversion practices. This study researches agricultural biotechnology firms in the United States. It reviews revenue, employment, research and development, financing, and products marketed and products in development. This thesis analyzes any possible relationships between the agricultural industry and the biotechnology industry. The amount of revenue and employees of agricultural biotechnology companies is very high, showing the importance of biotechnology in America. However, no substantial link relates the agricultural industry and biotechnology. Agricultural biotechnology is widely dispersed across the nation and is not dependent on the amount of agriculture in each state. For example, Idaho and Wyoming have no agricultural biotechnology firms while Massachusetts has 36 firms and New Jersey has 33 firms. The firms' product emphasis varies, but most firms focus on plant input and animal input characteristics, such as herbicide and insect resistance and vaccines, and focus on bioprocessing involving the improvement of food processing. The least amount of product emphasis included plant and animal output characteristics because these are in their early stages of development. There are no trends between states in regards to the averages of each firm's revenue, employment, and research and development per state. Each state varies substantially in total amounts and average amounts per firm.