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New data show short-term value of scientific research

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Posted April 4, 2014

University research is a key component of the US economic ecosystem, returning the investment through enormous public value and impact on employment, business, and manufacturing nationwide.

Using new data available to examine the short-term economic activity generated by science funding, researchers have for the first time been able to illuminate the breadth of the scientific workforce and the national impact of the research supply chain that is funded by federal grants.

Most of the workers supported by federal research funding are not university faculty members. In fact, fewer than one in five workers supported by federal funding are faculty researchers. The study, published this week in the journal Science, provides the first detailed information about the short-term economic impacts of federal research spending, the researchers said.

Using a new data set, the researchers also found that each university that receives funding spends those dollars throughout the United States – about 70 percent spent outside their home states – supporting companies both large and small.

The researchers conclude that federal funding has a wider impact than is often assumed. “The process of scientific research supports organizations and jobs in many of the high skill sectors of our economy,” the researchers wrote in Science.

Read more at: Phys.org

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