government funded research and gov backed companies: the best investment

While some fail technologies and some companies fail, overwhelmingly, government backed research is a great investment.  The latest data to support this comes from this report by the Battelle Technology Partnership Practice, described in the link below.  As an example, they look at the publicly funded human genome project from the 1990s.

This represents a return on investment of $141 for every $1 spent by the government…

the genomics-enabled industry generated more than $3.7 billion in federal taxes and $2.3 billion in state and local taxes in 2010 alone. “Thus in one year, revenues returned to government nearly equaled the entire 13-year investment in the HGP,” states the report.

http://www.aibs.org/washington-watch/washington_watch_2012_07.html

Advertisements
This entry was posted in policy, science and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s