Nearly $1 billion from research infused into Ariz. economy - Ahwatukee Foothills News: Money

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Nearly $1 billion from research infused into Ariz. economy

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Posted: Thursday, July 5, 2012 10:48 pm

Last year, nearly $1 billion was infused into Arizona’s economy as a result of research at Arizona’s public universities, according to the recently released Arizona Board of Regents 2011 research report.

The report details research expenditures as well as the economic, social and scholarly impact that results from research in the Arizona University System, indicating a significant positive impact on the state through new jobs, knowledge and dollars reinvested in the community.

Last year, the Board of Regents adopted a series of performance metrics to manage and measure university and system productivity and progress in four key areas, including research excellence.

Research metrics measure progress in total research expenditures, number of doctoral degrees awarded, number of invention disclosures transacted, number of patents issued, intellectual property income and national public research university ranking.

In fiscal year 2011, the research enterprise met or exceeded the enterprise goals in invention disclosures, U.S. patents issued, intellectual property income, and start-up companies.

Research expenditures fell just short of reaching the 2011 goal of $1,009.3 billion by $12.7 million. The universities are implementing measures to ensure the 2012 goal of $1,045.6 billion is met.

Through research activity at the universities, millions of dollars are reinvested annually into the community.

In 2011, Arizona’s public universities generated nearly $1 billion in research expenditures, dollars that become purchases and lead to employment within Arizona.

• Briefs compiled from staff and wire reports.

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