The economic impact of coproduction of renewable fuels with platform chemicals is determined by assessing thermal deoxygenation (TDO) pathway based biorefineries with two distinct product suites: (1) fuel and furfural (a platform chemical) and (2) fuel and levulinic acid (a platform chemical). Greenfield and brownfield plant site scenarios are considered. Additionally, the economic viability of producing activated carbon from biochar, rather than burning it to produce energy, is assessed. The biorefinery in which wood is converted using the TDO pathway to furfural, renewable fuel, and biochar is found to be a product-driven biorefinery. The production of renewable fuel along with levulinic acid from recycled cardboard via the TDO pathway is determined to be an energy-driven biorefinery. The minimum selling price (MSP) of TDO oil produced in product-driven and energy driven greenfield biorefineries are estimated at US$17 and US$18 per GJ or US$2.78 and US$2.92 per gallon of gasoline equivalent (GGE), respectively. It is found that capital investment for the product-driven and energy driven biorefineries can be reduced by 23-27% through integrating the TDO process into an existing pulp and paper facility (brownfield site), provided the infrastructure and assets of pulp and paper mill are well maintained. It has been learned that the synergy arising through co-production of chemicals with fuels and vice versa can facilitate the sustainable production of both renewable fuels as well as platform chemicals. Moreover, there is a need for the development of new less energy intensive separation processes for purifying bio-products.