Economic Impact of Health Research
Investment: Funding sources for overall research and development (2004)
| Source of R&D Funding | Investment | State Rank |
| Federal Government | $944,400,000 | 22 |
| Industry | $2,363,900,000 | 20 |
| Universities | $186,800,000 | 16 |
| Non-profit | $24,000,000 | 27 |
| Other * | $24,700,000 | 34 |
| Total | $3,543,700,000 | 23 |
* Other represents funding from state and local governments and funding for Federally Funded Research and Development Centers from non-federal sources.
Source: National Science Foundation, National Patterns of R&D Resources , 2006
Economic Impact: Statistics for research-driven health
industries (2004)
| Industry | Employment | Annual Salary |
| Pharmaceutical | 952 | $56,147 |
| Medical Device | 4,263 | $45,428 |
| Research, Testing, and Laboratories | 6,122 | $52,330 |
| Overall Private Sector | $36,211 |
Source: Battelle Memorial Institute and Biotechnology Industry Organization (BIO), Growing the Nation's Biotech Sector: State Bioscience Inititives 2006
Highlights from local economic impact studies
Arizona State
University had an economic
impact of $2.1 billion and 37,020
jobs in FY 2002.
The University of
Arizona (UA) supported 41,300
jobs and had an economic impact of $2.3
billion in FY 2004. Every dollar
from the state generated an additional $3.50 in grants, contracts, and
gifts.
The University
of Arizona received more than $285.1
million in research funding in FY 2002. This supported more than 3,400 direct jobs at UA and had a state-wide impact of 9,540 jobs.
The Phoenix
Biomedical Campus of the UA College of Medicine-Phoenix is expected to
produce up to $2.1 billion in annual
economic impact as well as employment
for up to 24,000 Arizonans by 2025.
The Association
of American Medical Colleges reports that the member medical schools and
teaching hospitals in the state had a combined economic impact of $4.2 billion and a total employment impact of 28,400 in 2005.
According to Arizona BioBasics,
venture capital investments in the biosciences totaled $77 million in the first three quarters of 2007. Arizona's jobs in
the biosciences increased by 18.5%
from 2002-2006. Every dollar invested in
bioscience leveraged $6.26 in other investments.
The Mayo
Clinic in Scottsdale had a total economic
impact of $704 million and 10,950
jobs in Arizona in 2002.
The Translational Genomics
Research Institute (TGen) in Phoenix is expected to generate an annual economic impact of $202.4 million and 3,125 jobs by the year 2025.