Economic Impact of Health Research
Investment: Funding sources for overall research and development (2008)
|Source of R&D Funding||Investment||State Rank|
Source: Calculated from National Science Foundation, Science & Engineering Indicators, 2012
|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)
|Medical Device||9,487 ||$63,334 |
|Research, Testing, and Laboratories||7,794 ||$99,459 |
|Overall Private Sector||1,437,602 ||$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.