Header 4

Economic Impact of Health Research

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

Source of R&D Funding InvestmentState Rank
Federal Government$1,668,000,000 19
Industry$2,501,000,00022
Universities$450,000,0005
Total$4,619,000,00023

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


Population (2011)

 Residents State Rank
Population, June 1, 2011 9,687,653

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


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

Industry EmploymentAnnual Salary
Pharmaceutical 3,111$98,455
Medical Device6,868
$56,454
Research, Testing, and Laboratories8,294
$56,552
Overall Private Sector3,344,319
$43,016

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


Highlights from local economic impact studies

United for Medical Research's 2012 study, NIH’s Role in Sustaining the U.S. Economy, shows that in 2011, NIH invested $463,300,000 in Georgia, producing 10,963 new jobs.

Four Georgia healthcare research organizations, with additional support provided by the Georgia Research Alliance have created a Global Center for Medical Innovations at Georgia Institute of Technology. The Center's mission is to develop and commercialize the next generation of medical devices and medical technologies.

The Georgia Research Alliance invested $400 million in research and leveraged an additional $2.6 billion from federal and private sources. Thus, every dollar invested returned $6.50. Additionally, university research led to the establishment of more than 100 high-tech spinoff companies.

 

The Association of American Medical Colleges reports that the member medical schools and teaching hospitals in the state had a combined economic impact of $12.3 billion and a total employment impact of 83,483 in 2011.

 

In FY 2011, the University System of Georgia had a total state-wide impact of $13.2 billion in output$9.4 billion in gross regional product, and $6.1 billion in personal income. Additionally, the system supported 131,990 jobs in the state.