Michigan’s University Research Corridor has a $14.5 billion economic impact

Between Michigan State University, the University of Michigan, and Wayne State University, you got a pretty good lineup of research schools. That’s why Michigan’s University Research Corridor has grown so much over the last couple years.Excerpt:Michigan’s University Research Corridor has grown in all competitive categories over the past two years, rising among the nation’s top research and development clusters for producing patents, businesses, and graduates with high-tech related degrees. A new annual economic impact study, “Empowering Michigan,” shows URC partners Michigan State University, the University of Michigan, and Wayne State University have improved in several key benchmarks since the first study in 2007. The studies, which examine innovation clusters in other states, were conducted by Anderson Economic Group. “Even in tough times, these three institutions are showing the whole is greater than the sum of its parts, making a $14.5 billion impact on Michigan’s economy, up nearly 10 percent,” said URC Executive Director Jeff Mason. “These institutions are producing both innovation and new company spinoffs that rival other major research regions of the nation and returning $16 for every dollar the state invests. “We’re third in patents granted (up from fifth two years ago); fourth in technology licenses (up from sixth); and we are producing an average of 20 new companies a year, more than one company a month for the past 60 months.”Read the entire article here.