The Regional Economic Impacts of University Research and Science Parks

This paper focuses on the regional economic impacts of US university research and science parks. Motivating this focus is the fact that the landscape for private-sector research is changing, and future research might well emphasize America’s “new geography of innovation.” Thus, university research a...

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Bibliographic Details
Published in:Journal of the knowledge economy 2020-03, Vol.11 (1), p.42-56
Main Authors: Hobbs, Kelsi G., Link, Albert N., Shelton, Terri L.
Format: Article
Language:English
Subjects:
Economic impact
Economic Policy
Economics
Economics and Finance
Entrepreneurship
R & D/Technology Policy
Research parks
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Summary:This paper focuses on the regional economic impacts of US university research and science parks. Motivating this focus is the fact that the landscape for private-sector research is changing, and future research might well emphasize America’s “new geography of innovation.” Thus, university research and science parks might face, if they are not already doing so, pressure to retain current tenants and competition for future tenants. We find that only 11 of 146 research and science parks in the USA have, in the spirit of public accountability, conducted an economic impact study. One reason for the paucity of such studies is that universities are unfamiliar about how to conduct as well as how to interpret the findings from such a study. We offer an economic impact method for park administrators to follow if they proceed to document the regional economic impact of their park.
ISSN:1868-7865
1868-7873
DOI:10.1007/s13132-018-0566-5