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||9,687,653 ||9|
Source: U.S. Census Bureau, 2010 Census Data
Economic Impact: Statistics for research-driven health industries (2008)
|Medical Device||6,868 ||$56,454 |
|Research, Testing, and Laboratories||8,294 ||$56,552 |
|Overall Private Sector||3,344,319 ||$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
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.