A new report from the at CU听Boulder has found that the National Institute of Standards and Technology (NIST), a federal research laboratory with operations in Gaithersburg, Maryland,听and Boulder, Colorado, added nearly $2 billion in combined economic contributions across the two states in the 2016 fiscal year.
NIST鈥檚 Gaithersburg, Maryland, campus鈥檚 economic contributions totaled $1.6 billion and added the equivalent of 12,287 jobs in the Maryland economy as the lab purchased supplies domestically and employees spent their earnings in their communities. The Gaithersburg campus also contributed $137 million in construction spending.
NIST鈥檚 Boulder campus added $319 million to Colorado鈥檚 economy and supported the equivalent of 2,823 jobs during FY 2016. The lab is among the largest employers in the Boulder area, employing a highly educated staff with wages exceeding the national average compared to all industries.
Nationwide, NIST鈥檚 impact totaled $2.7 billion in economic activity and 17,068 jobs in FY 2016. The Leeds evaluation expands on prior studies that have shown a 9-to-1 return on investment resulting just from NIST investments in scientific research and development.
The study, which was conducted by the at the Leeds School of Business, highlights NIST as a significant year-over-year contributor to the Maryland and Colorado economies.
NIST鈥檚 operational contributions reflect intensive spending on research activities鈥攍argely the people conducting research,鈥� said Brian Lewandowski, Associate Director of the Business Research Division. 鈥淓ven greater benefits likely accrue from the market impacts of the research and development.鈥�
This study examines the economic effect of NIST鈥檚 operating expenses (supplies, equipment and utilities, for example), construction investments, contracted research, salaries and benefits. It does not quantify the value or economic impact of NIST鈥檚 basic research advancements or licensed, commercialized products that result from this research and technology transfer efforts.
NIST, a part of the U.S. Department of Commerce, promotes scientific innovation by advancing measurement science and standards and has produced five Nobel laureates over the past two decades, including CU Boulder affiliates Eric Cornell (2001), Jan Hall (2005) and David Wineland (2012).
To read the full report, .
