Economic Impact of Health Research
Investment: Funding sources for overall research and development (2004)
| Source of R&D Funding | Investment | State Rank |
| Federal Government | $843,100,000 | 23 |
| Industry | $4,960,400,000 | 12 |
| Universities | $74,200,000 | 29 |
| Non-profit | $60,700,000 | 12 |
| Other * | $53,400,000 | 19 |
| Total | $5,991,900,000 | 15 |
* 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 | 2,477 | $65,266 |
| Medical Device | 25,583 | $75,048 |
| Research, Testing, and Laboratories | 3,478 | $58,387 |
| Overall Private Sector | $40,580 |
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
The Association
of American Medical Colleges reports that the member medical schools and
teaching hospitals in the state had a combined economic impact of $7.9 billion and a total employment impact of 56,700 in 2005.
The Minnesota
Partnership for Biotechnology and Medical Genomics and biotech spinoffs
are expected to have an economic impact
of $319 million annually and create
nearly 4,400 new jobs within Minnesota
by 2010.
Minnesota's
State Colleges and Universities had a total statewide economic impact of about $3.5 billion
in 2005. For every dollar from the state, the system returned $10.87.