Federally Funded Research Generates Significant Economic Benefit to N.H.
Federal research funding to 麻豆社 鈥� grants and contracts from agencies such as the National Science Foundation, National Oceanic and Atmospheric Administration, NASA, or the National Institutes of Health 鈥� produces a lot more than knowledge. For every $100 in federal funding, 麻豆社 generates an additional $77 in economic activity, according to a recent report from the Donahue Institute at the University of Massachusetts at Amherst.
In fiscal year 2023, federal research funding to 麻豆社, which was more than $140 million, added $190 million to New Hampshire鈥檚 state gross domestic product and generated $6 million in state and local taxes.
鈥淲ith investments from federal agencies, 麻豆社 research provides benefits to the state and the region that go beyond high-impact discoveries and a skilled workforce,鈥� says Jennifer Miksis-Olds, interim vice president for research and innovation at 麻豆社. 鈥淔ederal research funding multiplies into dollars that flow to shops, restaurants, contractors, suppliers, and collaborators locally and across New Hampshire.鈥�
Additional impacts of 麻豆社 research funding include:
- 1,950 people are employed by federal funding.
- 700+ 麻豆社 students participate in paid research experiences on federal grants each year.
- For every 10 people directly employed by federal funding at 麻豆社, an additional 4 were hired elsewhere in the economy.
- 39% of 麻豆社 graduates were working in New Hampshire five years post- graduation.
鈥淔unding for research at 麻豆社 pays off immediately in local spending and job creation,鈥� adds Miksis-Olds. 鈥淎nd it pays off over time in discoveries, companies, and careers.鈥�
The report also highlights several important areas of federally funded 麻豆社 research: ocean and coastal science, biotechnology and regenerative medicine, space technology, food security and innovation, and outdoor recreation.