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The Regional Economic Impacts of University Research and Science Parks

Albert Link, Kelsi Hobbs () and Terri Shelton ()
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Kelsi Hobbs: University of North Carolina at Greensboro, Department of Economics
Terri Shelton: University of North Carolina at Greensboro, Department of Economics

No 18-7, UNCG Economics Working Papers from University of North Carolina at Greensboro, Department of Economics

Abstract: This paper focuses on the regional economic impacts of U.S. 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 United States 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.

Keywords: University research and science park; Public accountability; Economic impact (search for similar items in EconPapers)
JEL-codes: H43 H54 O32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-ino, nep-sbm and nep-ure
Date: 2018-10-08
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