Return on research through licensing (yield)
The University of Oregon is among the 108 institutions chosen from 4,633 U.S. universities for top-tier designation of “Very High Research Activity” in the 2010 Carnegie Classification of Institutions of Higher Education. The UO also is one of two Pacific Northwest members of the Association of American Universities and is nationally recognized for translating basic research discoveries into practical applications.
Research and technology creates opportunities for Oregonians. And, says Tim Duy, director of the Oregon Economic Forum and author of “The Economic Impact of the University of Oregon,” UO research provides clear support for the Oregon economy.
“The ultimate impact of research extends far beyond that of the initial revenue and spending,” Duy says. “Research yields innovations that create jobs and support a higher quality of life for all Oregonians.”
UO research innovations generated nearly $7.9 million in licensing revenue for the Oregon economy in FY2012. Almost all of this revenue comes from beyond Oregon’s borders, bolstering the state’s economy. Companies formed from UO research also benefit the state. Aggregate numbers of jobs created and company income generated by UO startups during 2011 was 250 jobs and $35.75 million in Oregon.
Research creates jobs and fuels the economy in other ways, as well. Construction of the new $65 million Lewis Integrative Science Building contributed in the form of construction money that went to local and state businesses. With the design team and its consultants all being from the state of Oregon and the construction team using subcontractors that all hail from the state of Oregon, the economic benefits are very clear. The project created an estimated seventy-five FTE jobs for more than two years.
The contributions will likely continue, as more sponsored research projects come to Oregon as a result of the Lewis facility, bringing dollars that originate elsewhere to the state.