From United for Medical Research
May 10, 2011 – Two economic reports released this evening showcase the impact of National Institutes of Health (NIH) funding on U.S. job growth and global competitiveness in the health and life sciences industries. NIH directly and indirectly supported nearly 488,000 jobs and produced $68 billion in new economic activity in 2010 alone, according to a report from the nonprofit coalition, United for Medical Research (UMR). A complementary report from Battelle provided the first comprehensive analysis of the economic impact of the mapping of the human genome, a project that drove $796 billion in economic gains between 1988 and 2010 and created 310,000 jobs in 2010.
UMR, a group of leading research institutions, patient and health advocates and private industry, along with one of the nation’s leading economists, Everett M. Ehrlich, Ph.D., released the report, titled, “An Economic Engine: NIH Research, Employment, and the Future of the Medical Innovation Sector.” The report draws three conclusions: NIH extramural research is an important source of income and employment around the country; the complementary relationship between public NIH investment and private industry development is critical to the health and wellbeing of our nation; and the U.S.’s medical innovation sector is facing increasing challenges and must be preserved in order to maintain America’s competitiveness and position as the world leader in medical research.