Economic Impact of Health Research
Investment: Funding sources for overall research and development (2005)
| Source of R&D Funding | Investment | State Rank |
| Federal Government | $1,578,000,000 | 18 |
| Industry | $1,175,000,000 | 26 |
| Universities | $129,000,000 | 21 |
| Non-profit | $37,000,000 | 23 |
| Other * | $90,000,000 | 11 |
| Total | $3,009,000,000 | 26 |
* 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)
| Tennessee | Residents | State Rank |
| Population, July 1, 2006 | 6,074,913 | 17 |
Source: U.S. Census Bureau, Annual Population Estimates, 2008
Economic Impact: Statistics for research-driven health industries (2006)
| Industry | Employment | Annual Salary |
| Pharmaceutical | 2,282 | $71,991 |
| Medical Device | 7,987 | $54,049 |
| Research, Testing, and Laboratories | 8,560 | $60,819 |
| Overall Private Sector | 2,329,804 | $37,468 |
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 Tennessee generated $1,038,000,000 of business activity and 7,704 new jobs. The report also highlights why global health matters to Tennessee.
The Association
of American Medical Colleges reports that the member medical schools and
teaching hospitals in the state had a combined economic impact of $8.4 billion and a total employment impact of 58,000 in 2005.
Vanderbilt
University and
Vanderbilt Medical Center employ more than 18,500 in the state
and have an annual economic impact of $4 billion.
The University of
Tennessee (UT) and Battelle found that the Oak Ridge National
Laboratory's expenditures in 2005 increased Tennessee's gross state product
by $820 million and supported 20,700 jobs in the state.
According to the Memphis Bioworks
Foundation, the UT-Baptist
Research Park will generate 5,000
bioscience jobs and 4,000 supporting
jobs. The park is also expected to have an annual economic impact of $2 billion.
