Studies show University research is an economic boon

A review of several studies by an ASU professor showed that research at universities can have a major economic impact on local communities.

Surrounding communities benefit from university research when three criteria are in place, according to the study, "University Research and Local Economic Development."

These characteristics are faculty studying advanced technology, the existence of well-ranked science and engineering programs and a university in a major metropolitan area with many industrial labs and high-technology manufacturers.

The Phoenix area benefits from having a large research university, major engineering firms such as Intel and a high level of engineering research spending, said Kent Hill, the study’s author and an ASU professor in the economics department.

Phoenix ranked 12th in the nation for engineering research spending in 2003, with $52 million in these expenditures, according to the study.

by Grayson Steinberg

Full Story: http://www.asuwebdevil.com/issues/2006/09/20/news/697781