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ECONOMIC IMPACT: At a Glance

At a Glance...The Economic Contributions of Michigan's University Research Corridor
Summary of AEG's Preliminary Findings, May 2007

  • The University Research Corridor (URC) is an alliance of Michigan's three largest academic research institutions: Michigan State University, University of Michigan, and Wayne State University.

  • The URC's mission is to accelerate economic development in Michigan by educating students, attracting talented workers to Michigan, supporting innovation, and encouraging the transfer of technology to the marketplace.

  • The URC makes significant economic contributions to the state's economy. AEG will provide an annual report that will quantify these impacts.

  • Preliminary findings from AEG's 2007 analysis (available at: AndersonEconomicGroup.com) show:
    1. Enormous Economic Benefits of the University Research Corridor
      • The Research Corridor universities collectively spent $6.5 billion on operations in FY 2006. This is about 2% of all economic activity in the state, as measured by Michigan's gross state product.
      • Over 617,957 URC alumni living in Michigan earned $24.3 billion in 2006. This is 7.1% of total personal income of Michigan residents.
      • The URC employed 46,398 full-time faculty and staff throughout the state of Michigan in FY 2006.
    2. URC Contributes Significantly to R&D, Patents, Licenses, and Start-ups in Michigan
      • In 2005, the URC spent $1.37 billion on research and development. This is 94% of all R&D spending by universities (public and private) in Michigan.
      • On average, the URC filed 437 invention disclosures and 243 new patent applications annually between 2002 and 2006. The URC received on average 126 patents and 118 licenses annually between 2002 and 2004.
      • The URC helped cultivate on average 15 start-up companies annually between 2002 and 2006.
    3. URC Brings Millions of Dollars in Federal Investment to Michigan
      • The URC brought $832 million in federal research dollars to Michigan in 2005. This is money that paid salaries and bought supplies and equipment, fueling other economic activity in the state.
    4. Michigan's URC is Among the Top University Clusters in the U.S.
      • The URC spends more on R&D than university clusters in Massachusetts (MIT, Harvard, and Tufts) and Pennsylvania (Penn State, University of Pittsburgh, and Carnegie Mellon).
      • The URC received more federal dollars for R&D than the North Carolina Research Triangle universities (Duke, University of North Carolina, and North Carolina State University) in 2005.
      • The URC received more patent grants on average each year between 2002 and 2006 than the North Carolina and Pennsylvania university clusters.
      • Between 2002 and 2006, the URC helped cultivate four more start-up companies on average annually than North Carolina's Research Triangle university cluster.
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