Economic Impact of University Research Parks

University research, science and technology parks are strong economic engines and contribute to the economic development of local communities, states, and nations. Below are studies that illustrate the economic impact of university research parks. 

The systematic development of linked Communities of Innovation greatly influences the economic health of regions, as shown in the reports below.  For more information on AURP and university research parks, contact AURP Headquarters. 

Purdue Research Foundation's FY2021-2022 Annual Report

Purdue Research Foundation continues to exceed milestones and establish new thresholds in its placemaking mission. Discovery Park District at Purdue is a giant leap in placemaking intentionally built for families to thrive, talent to grow, technologies to launch, and businesses to collaborate. Discovery Park District is a $1.2 billion, 400-acre mixed-use development just steps away from Purdue University. The district offers a tech city experience and quality of life without tech city cost of living.

JobsOhio "The Future is Ohio" 2021 Annual Report and 2022 Strategic Plan

JobsOhio’s four strategic initiatives — talent, sites, innovation, and inclusion — continue to help position Ohio in the minds of new and expanding businesses. JobsOhio’s 2021 initiatives created records of more than 29,000 new jobs, new payrolls of $1.6 billion, and new capital investment of $6.9 billion. Ohio’s economy as a whole prospered, gaining 99,000 private-sector jobs in 2021, more than any year since 1997. A record 197,010 businesses were formed in Ohio, up 15% from the previous year.

MaRS Discovery District: Meaningful Innovation - Impact Report (December 2021)

MaRS, co-host of AURP's 2022 International Conference, is North America’s largest urban innovation hub. The anchor of Canada’s tech ecosystem, MaRS helps Canada’s most promising tech companies grow and succeed. MaRS also convenes all members of the innovation economy to drive breakthrough discoveries, create jobs and make an impact by solving real problems for real people — in Canada and around the world.

USF Economic Impact Report 2021

This new impact report details the the University of South Florida’s (USF) role as a catalyst for growth across the state of Florida. In this report, the breadth and depth of USF’s economic impact can be seen in all aspects of the university’s operations — from the students it educates, to the faculty and professional staff it employs, to the talented professionals and entrepreneurs who power a modern innovation economy.

Economic Impact Assessment - Sandia Science & Technology Park

This report (June 2022) provides a historical overview of employment at the Sandia Science & Technology Park (SS&TP) and presents an estimate of the economic impact of the Park in 2020 and 2021 on the Mid-Region of New Mexico, the City of Albuquerque, and the balance of Bernalillo County. The results of this analysis indicate that the Park has provided substantial and continuing benefits to the economy of Albuquerque and the region.

University of Illinois Research Park Economic Impact Report 2021

The Research Park at the University of Illinois at Urbana-Champaign is a leading technology hub that cultivates startups and accelerates corporate innovation. The University of Illinois EDA University Center provided Economic Impact studies for university incubators in Illinois, including: Southern Illinois University – Carbondale: Research Park; Illinois Institute of Technology: University Technology Park; University of Illinois: Innovate Springfield; and the University of Illinois Research Park and EnterpriseWorks.

University of Wisconsin-Madison: Economic Impact 2021 + Innovation $20 Billion + $10 Billion

This 2021 report shows UW–Madison, UW-affiliated organizations and UW-related startups contribute $30.8 billion per year to the Wisconsin economy. This economic activity supports more than 232,000 jobs and generates $1 billion in state and local taxes. The combined economic impact of UW–Madison and its affiliated UW organizations is $20.8 billion per year, which supports more than 189,000 jobs and generates more than $718.6 million in state and local tax revenue.

University of Kentucky Economic Development Collaborative

Welcome to the 2021 Annual Report of the University of Kentucky's Economic Development Collaborative (EDC). As UK embarks on a new Strategic Plan, the EDC plays an important role in its implementation as noted throughout this report. The focus on the EDC's bold ideas and goals will strengthen Kentucky’s economy and improve the lives of its people.

Innovation in Action - 2021 Impact Report

The University City Science Center is a Philadelphia's premier catalyst of entrepreneurial activity, healthcare innovation, and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor, and economic development partner for young technology companies. 

2021 Community Impact Report

Research Triangle Park (NC) details its recent major milestones in its new RTP 2021 Community Impact Report, including the grand opening of Boxyard RTP; its growing community of innovators at Frontier RTP; and continued construction on the Hub RTP mixed-use development.

Tech Parks Arizona: An Economic Powerhouse

The University of Arizona Tech Parks Arizona seeks strong growth for Arizona's economy after recording a $2 billion impact on the state, according to its annual report.

Archived Economic Impact Studies

BNMC 2018 Impact Report

The University of Wisconsin-Madison Economic Impact Report 2015

University of Illinois Research Park: 2018 Economic Impact Report

Incubating Impacts: The Economic Emergence of the Research Park at the University of Illinois Case Study

Buffalo Niagara Medical Campus (BNMC) Building Community: 2016 Annual Report

An Economic Catalyst for Greater Philadelphia

The University of Arizona Tech Park Economic Impact Executive Summary 2015

University City Science Center 2014 Annual Review