Economic Impact of Health Research

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

Source of R&D Funding Investment State Rank
Federal Government $464,500,000 29
Industry $947,400,000 27
Universities $155,000,000 17
Non-profit $12,900,000 35
Other * $19,300,000 36
Total $1,599,100,000 33

* 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 2,681 $44,833
Medical Device 4,000 $37,729
Research, Testing, and Laboratories 1,495 $48,691
Overall Private Sector  $31,297

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 $5.4 billion and a total employment impact of 31,800 in 2005.

The six members of Health Sciences South Carolina, University of South Carolina, the Medical University of South Carolina, Clemson University, Palmetto Health, Greenville Hospital System, and Spartanburg Regional Medical Center, accounted for $8.5 billion in total economic output and 88,700 jobs in 2004.

The eight campuses of the University of South Carolina and its alumni add $4 billion to South Carolina's economy and support nearly 50,000 jobs.

During FY 2003-2004, research spending at USC's campuses totaled $117 million. This had an economic output of $213.3 million and supported 3,200 jobs.