The Value of Research to the State Economy
The University of Massachusetts Donahue Institute and the National Science Institute supplied data on federal research funding for a Boston Globe article looking at the implications that Congressional cuts in research would pose to the Commonwealth’s economy. With its high concentration of universities and medical schools, as well as biotechnology and pharmaceutical firms, Massachusetts currently reaps over $7.7 billion in federal funding for research and development. The state stands to lose $680 million by 2013 if Congress fails to reach an agreement on deficit reduction strategies. In addition to sustaining thousands of jobs, federal research dollars help position Massachusetts at the forefront of medical and technological innovation, often cited as a critical factor to maintaining competitiveness in a changing global economy.
November 14, 2011