Scientific Research Industry Pumps $4.6B into Local Economy

Study authors say the amount of money generated by the biomedical and scientific research community equals dozens of Comic-Cons

A new study finds that San Diego's research institutions are pouring billions of dollars into the regional economy every year.

The study shows that in total non-profit research organizations like the Salk Institute have a $4.6 billion economic impact on the regional economy.

Dr. Steve Kay, incoming president of the Scripps Research Institute, is grateful for this first-of its kind study showing the economic impact of scientific, non-profit organizations.

“I'm moving from LA back to San Diego because of exactly that kind of features that are mentioned in this report,” Kay said.

Authors of the study say that amount of money every year is equal to 34 San Diego Comic-Cons, four San Diego Convention Centers, 33 Open Golf Championships or six aircraft carriers stationed in San Diego.

Not to mention the impact the institutions have on roughly 37,000 jobs.

The study is a confirmation for Kay and others of the impact their research is having not only on individuals and disease but also on the economy.

“You help fund research grants and the enterprise and in return we bring cures and jobs and economic development to your local community,” he said.

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