FRANKENMUTH, Mich. — U.S. Sen. Debbie Stabenow says her $5 billion “Grow it Here, Make it Here” initiative will benefit Michigan’s two largest industries – agriculture and manufacturing.

“When we grow things here and make things in Michigan, we create jobs in Michigan,” said Stabenow, who chairs the Senate Committee on Agriculture, Nutrition and Forestry. “Henry Ford knew this over 80 years ago when he discovered how to use agriculture products in his automobiles. Today, Michigan innovators are building off of his work to make things with Michigan-grown products.

“We are at the forefront of bio-based manufacturing, and my initiative will help businesses who want to invest and create new jobs here in America,” she said.

First introduced last October, Stabenow’s Senate bill would allow companies to qualify for up to a 30-percent tax credit to help finance investments in new, expanded or re-equipped bio-based manufacturing, creating new jobs. Only companies that manufacture these products in the United States would be eligible for this incentive.

During several recent news conferences across Michigan, Stabenow announced three new initiatives to help advance the state’s emerging bio-based manufacturing industry, which she hopes to accomplish through standalone legislation and specific provisions in the 2012 Farm Bill.

Her proposal calls for strengthening the Biopreferred Program, which certifies and labels products so consumers can choose to purchase goods made of agricultural materials, and it provides preference for these products for government purchases. In addition, it seeks greater accountability to ensure the integrity of the certified label.

Stabenow also wants to increase access to capital for bio-based manufacturers by expanding the USDA’s Biorefinery Loan Guarantee Program so bio-based manufacturers have access to loans to help finance new operations or expand existing ones.

Finally, her initiative calls for the commercialization of new agricultural innovations by streamlining and focusing resources to help new bio-based projects move from the development to the commercialization phase, to help close the gap in the industry from start to finish of a project.

Stabenow was joined by representatives of the Michigan Soybean Promotion Committee (MSPC) at a news conference at the Henry Ford Soybean Lab Agricultural Gallery at Greenfield Village in Dearborn, which was first opened in 1930.

MSPC Field Operations Director Keith Reinholt commended Stabenow for being such a strong advocate of the bio-based market development programs which create jobs in Michigan and benefit the environment.

“This support is especially meaningful to the soybean industry as the vast majority of the new bio-based products are formulated with soybean oil,” Reinholt said.

Ford began using soy-based foam in seat cushions in its 2008 Mustang. Today, the company uses locally grown soybean for cushions in all of the vehicles it produces in North America. In addition, Ford uses soy oil as a partial replacement for petroleum in other products.

Reinholt said Stabenow “is certainly a visionary, much like Henry Ford was, as we strive for promoting bio-based product use to benefit, among others, the Michigan soybean producer.”

The Biotechnology Industry Organization (BIO) supports Stabenow and the co-sponsors of her bill for introducing legislation that would allow more bio-manufacturing companies to participate in Farm Bill programs.

“Sen. Stabenow’s proposed legislation would help bio-based manufacturers access vital capital, strengthen market opportunities for bio-based products, and spur commercialization of agricultural and industrial biotech innovations,” said BIO President & CEO Jim Greenwood. “Technology neutral support for all bio-based products, renewable chemicals and biofuels will help build a robust bio-based economy.

“Building a bio-based economy in the United States will generate good jobs in manufacturing, agricultural production and forestry, transportation and distribution, and construction. Biomanufacturing opportunities can help revitalize traditional manufacturing regions and rural areas, creating a healthy, sustainable bio-based economy,” Greenwood said.

Ryan Findlay, National Legislative Counsel with Michigan Farm Bureau, said the state’s largest farm organization supports initiatives to help grow Michigan’s agricultural industry.

“We are supportive of taking Michigan commodities and utilizing them in many different ways,” Findlay said.

He said Stabenow’s concepts have been widely discussed by agricultural leaders throughout the state and Farm Bureau is pleased “to have someone like Sen. Stabenow who is taking these issues seriously.”

Current provisions for the 2012 Farm Bill call for cutting agricultural funding by $23 billion. Findlay said with this expected budget reduction, “It is really critical that we make sure we are smart with how this money is spent.”

While the overall concepts of Stabenow’s initiative sound promising, there are concerns about what amendments to the legislation may look like.

“We want to be sure we aren’t going to pull funding from someplace else to do research for the bio-based economy,” he said. “We have to consider how we look forward with our budget.

With Michigan Farm Bureau’s focus on advancing the state’s agricultural industry, Findlay said, “It is very positive that all of Michigan is moving in the right direction, and that is forward.”