New York

Economic Impact of Health Research

Investment: Funding sources for overall research and development (2004)

* 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)

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 $66.3 billion (ranked 1^st in the nation) and a total employment impact of 449,800 in 2005.

According to the New York Biotechnology Association, New York's biotechnology and pharmaceutical industries generated $18.1 billion in economic activity in the state. These companies also employed nearly 54,500 people who earned $3.3 billion in wages in 2003. In 2004, research institutions produced 486 patents.

The State University of New York generates $8 in spending for every dollar from the state and had a total economic impact of nearly $24 billion in 2005-2006.

SUNY Downstate Medical Center's estimates its economic impact to be $1.3 billion and that each dollar invested in Downstate returns $12 to the local economy.

In 2005, Cornell University had a total economic impact of $3.3 billion and supported 36,600 jobs. In addition, 28 start-up companies based on technologies developed at Cornell were launched between 2000 and 2004.

The Center for Biotechnology is a partnership between universities, private industry, and state of New York to promote economic development. Between 2001 and 2006, the Center for Biotechnology created 575 jobs and leveraged $106 million in federal and private funding from the state's initial $5 million investment. The Center had a total economic impact of $575 million from 2001-2006.

Stony Brook University had a $2.5 billion impact on the Long Island economy and supported 47,400 jobs in 2002-2003. For every dollar of state investment, the University generates $15 for the region.

The New York State Office of Science, Technology and Academic Research awarded $232 million in research funds to institutions across the state between FY 2001-2002 and FY 2005-2006. This investment produced a total economic impact of $5.8 billion and led to the creation and retention of 17,000 jobs in the state.

In 2005-2006, the University of Buffalo had a total economic impact of $1.5 billion on the state-four times the state's investment. UB directly employed nearly 6,500 people and generated an additional 11,700 jobs in the Buffalo-Niagara region.

In FY 2004, Brookhaven National Laboratory directly spent $454 million which subsequently increased New York state's output by more than $880 million and generated 7,700 jobs statewide.