Economic Impact of Health Research
Investment: Funding sources for overall research and development (2005)
| Source of R&D Funding | Investment | State Rank |
| Federal Government | $1,110,000,000 | 22 |
| Industry | $2,753,000,000 | 18 |
| Universities | $221,000,000 | 14 |
| Non-profit | $30,000,000 | 25 |
| Other * | $25,000,000 | 34 |
| Total | $4,139,000,000 | 20 |
* 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, 2007
Population (2006)
| Residents | State Rank | |
| Population, July 1, 2006 | 6,165,689 | 16 |
Source: U.S. Census Bureau, Annual Population Estimates, 2008
Economic Impact: Statistics for research-driven health industries (2006)
| Industry | Employment | Annual Salary |
| Pharmaceutical | 1,109 | |
| Medical Device | 4,792 | $48,958 |
| Research, Testing, and Laboratories | 6,741 | $57,031 |
| Overall Private Sector | 2,225,700 | $39,526 |
Source: Battelle and Biotechnology Industry Organization (BIO), Technology Talent and Capital: State Bioscience Initiatives 2008
Highlights from local economic impact studies
A 2007 study by FamiliesUSA, In Your Own Backyard, shows that NIH funding for Arizona generated $369,000,000 of business activity and 2,934 new jobs.The report also highlights why global health matters to Arizona.
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.
