A bioeconomy is one based on the use of research and innovation in the biological sciences to create economic activity and public benefit. The U.S. bioeconomy is all around us: new drugs and diagnostics for improved human health, higher-yielding food crops, emerging biofuels to reduce dependency on oil, and biobased chemical intermediates. The public benefit gained through biological research can be seen through the eyes of a patient who received a critical medication that did not exist a decade ago, a farmer whose higher-yield crops are turned into fuels, food, and intermediate chemicals, and a small-business owner whose innovative biobased products are breaking new ground in manufacturing. Increased societal needs for food and energy, combined with new knowledge/discoveries in biology and new methods for harnessing biological processes, have dramatically increased the economic potential for the bioeconomy. This book explores the background, objectives and impacts of the U.S. bioeconomy to generate economic growth and address societal needs.