NIH is a powerful economic engine investing nearly $30.1 billion annually in medical research for the American people. In fiscal year 2012, NIH-funded research supported an estimated 402,000 jobs all across the United States.
The economic impact of NIH does not end there. It has been estimated that every $1 of NIH funding generates about $2.21 in local economic growth. Also, discoveries arising from NIH-funded research serve as a foundation for the entire U.S. biomedical industry. Long considered the world’s leader in innovation, that vital sector exports an estimated $90 billion in goods and services annually and employs 1 million U.S. citizens with wages totaling an estimated $84 billion.
Consider the economic payoff of just one NIH-supported research initiative: the successful effort to read all the letters in the human DNA instruction book. The U.S. government’s $4 billion investment in the Human Genome Project spurred an estimated $965 billion in economic growth from 1988-2012—a 178-fold return on investment, after adjusting for inflation.
University Research Funding: Still Lagging and Showing No Signs of Improvement , The Information Technology & Innovation Foundation, 2013
Profiles of Prosperity: How NIH-Supported Research is Fueling Private Sector Growth and Innovation , United for Medical Research, 2013
The Impact of Genomics on the U.S. Economy , Battelle Technology Partnership Practice for United for Medical Research, 2013
Leadership in Decline , The Information Technology & Innovation Foundation and United for Medical Research, 2012
Not Coming to America
, The Partnership for a New American Economy, 2012
NIH’s Role in Sustaining the US Economy , United for Medical Research, 2012
An Economic Engine , United for Medical Research, 2011
Economic Impact of the Human Genome Project , Battelle Technology Partnership Practice, 2011