URC economic impact on Michigan reaches $14.8 billion

Wayne State, Michigan and Michigan State universities not only team up to create the University Research Corridor, but they have created more and more economic opportunity and jobs over the last few years, according to a new benchmark study.

The 2010 Empowering Michigan report, conducted by Anderson Economic Group, shows that the state's research universities have bumped their economic impact from $12.9 billion in 2006 to $14.8 billion in 2009. That economic growth also created $50 million more in taxes for a grand total of $401 million. Those number promise to get bigger as the a number of factors begin to swing Michigan's way, including a rebounding economy, the newly formed University Research Corridor gaining more traction and synergies created by its new alliance with Business Leaders for Michigan.

"They're all critical pieces of that puzzle. It's not one particular piece," says Jeff Mason, executive director of the University Research Corridor. "If all of them are producing we will see greater growth in the years to come."

The University Research Corridor has also established itself as one of the major research clusters in the U.S. It is in the Top 3 for generating patents. The University Research Corridor's licensing revenue is double that of the most widely recognized research cluster, the Research Triangle in North Carolina. The combination of Wayne State, Michigan and Michigan State is also the No. 1 cluster in the U.S. in terms of enrollment, and No. 3 in terms of high-tech degrees.

Source: Jeff Mason, executive director of the University Research Corridor
Writer: Jon Zemke