Ag Biotech and Midwest Rural Development

The Federal Reserve Bank of Chicago held a conference on September 8, 2005, that dealt with issues related to agricultural biotechnology and rural development prospects in the Midwest. Some of the topics that were explored included the following: the future of ag biotechnology, biorefineries, the impacts of specific technologies (biofuels, cloning, pharmaceuticals, etc.), the roles of industry and financing and policies at various levels of government. The invited keynote speaker was Thomas C. Dorr, Under Secretary for Rural Development, U.S. Department of Agriculture.

This conference was organized to inform and bring together those interested in the issues surrounding agricultural biotechnology and Midwest rural development prospects. The conference examined the current status and the future prospects of ag biotech in the Midwest, along with the implications for rural development. There was a discussion about how government policies influence ag biotech and rural development and set the stage for economic growth.