LANSING – Michigan’s University Research
Corridor – the University of Michigan, Michigan State University and Wayne
State University – contributed $16.8 Billion to Michigan’s economy, a 50
percent increase since 2007, a new report contends, bested only by a cluster of
universities in Southern California.
“With a more than 50 percent increase in these areas in just
eight years, URC universities are becoming a force to be reckoned with in
developing new technologies and innovations,” said URC Executive Director Jeff
Mason. “The 8th Annual Economic Impact & Benchmark Report
demonstrates that Michigan’s leading research institutions fare well in
comparison with renowned research clusters including the Research Triangle and
Southern California Cluster in the realm of research and development.”
The report released Tuesday, prepared by East Lansing-based
Anderson Economic Group, compared the URC’s performance to peer university
innovation clusters including Northern California, Southern California,
Illinois, Massachusetts, North Carolina, Texas and Pennsylvania.
Strength in research, innovation and talent resulted in the
URC ranking second among the nation’s most respected schools in the Innovation
Power Ranking for the second year in a row. Only the Southern California
Cluster (UCLA, UC-San Diego and USC) ranked higher.
The Innovation Power Ranking developed by AEG for the 2014
report gives an even clearer picture of the URC’s success in areas that help
boost Michigan’s economy, from innovative research that gives Michigan
businesses an edge to helping students gain the skills they need to compete in
high-demand fields.
Michigan’s economy continues to benefit from the URC
universities. The $16.8 billion net impact in Michigan is up from $16.6 billion
the previous year and $12.9 billion reported in the first report published in
2007. For every dollar the state invested in the three URC universities, it saw
$21 in economic benefits, according to the report.
The report also indicates growth in research and development
at the three leading research universities that comprise Michigan’s URC. Its
$2.123 billion in R&D expenditures in 2013 marks an increase of 51 percent
since 2007, when the URC first began benchmarking against the other innovation
clusters. A rate of increase that far surpassed the average for other
university clusters as well as the average for all U.S. institutions, according
to the report.
“Top-ranking research universities in our state have a
consistent and tangible impact on our state’s economy, investing in jobs, and
research and development across the state of Michigan,” said President of the
University of Michigan Mark Schlissel.
The URC also ranked first in the talent composite score, a
measurement of total number of degrees conferred and total number of high-tech
degrees. The URC conferred 32,563 degrees including 2,186 medical degrees, the
highest number of advanced degrees in the medicine and biological science
fields of any peer university innovation cluster.
“Employers continually tell us that one of the main factors
in site selection for any organization is a strong pool of highly educated
individuals,” said President of Wayne State University M. Roy Wilson. “URC
universities play a vital role in molding young talent into the leaders of
high-tech, in-demand fields of the future.”
Since 2002, the three URC universities have cultivated 173
start-up companies, including 64 which have formed in the past five years.
“URC members’ world-class research, both on- and
off-campus, positions Michigan as a global innovation leader,” President of
Michigan State University Lou Anna K. Simon said.”The talent we attract
and develop, from undergraduates up to distinguished faculty members, drives
our communities and state to a higher level of competitiveness.”
The report also includes a breakdown of the URC’s economic
impact in 10 regions statewide, including the effect of the additional money
URC alumni living in Michigan earn because of their university degrees. As of
summer 2014, the URC universities had nearly 1.2 million alums worldwide. More
than 600,000 live in Michigan accounting for more than 9 percent of the state’s
population over age 24.
The full report is available at http://urcmich.org/wp-content/uploads/2015/04/URC_EconImpact_2014-FINAL.pdf.
