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Economic Impact of Health Research

Investment: Funding sources for overall research and development (2008)

Source of R&D Funding InvestmentState Rank
Federal Government$575,000,000 32
Industry$8,938,000,000
Universities$96,000,00029 
Total$9,609,000,00012

Source: Calculated from National Science Foundation, Science & Engineering Indicators, 2012 


Population (2011)

 Residents State Rank
Population, June 1, 2011 3,574,097
30

Source: U.S. Census Bureau, 2010 Census Data


Economic Impact: Statistics for research-driven health industries (2008)

Industry EmploymentAnnual Salary
Pharmaceutical 7,926
$125,702
Medical Device9,487
$63,334
Research, Testing, and Laboratories7,794
$99,459
Overall Private Sector1,437,602
$59,305

Source: Battelle and Biotechnology Industry Organization (BIO), BIO State Bioscience Initiatives, 2010


Highlights from local economic impact studies

United for Medical Research's 2011 study, An Economic Impact, shows that in 2010, NIH invested $571,000,000 in Connecticut, producing 7,675 new jobs.

 

In 2005, Connecticut approved legislation authorizing $100 million to fund stem cell research in the state.

From 1995-2008, Connecticut Innovations, the state's quasi public partnership responsible for technology investment and innovation development, contributed over $3.6 billion to Connecticut.

The Association of American Medical Colleges reports that the member medical schools and teaching hospitals in the state had a combined economic impact of $8.6 billion and a total employment impact of 60,080 in 2008.

According to CURE, Connecticut's bioscience R&D spending was $286 million in 2005. The state's bioscience industry supported a total of 57,000 jobs and had an economic impact of more than $17 billion.

The University of Connecticut and the University Health Center received more than $188 million in external research funding in FY 2003. This created more than 5,100 jobs and added $397 million to the gross state product.