IP-intensive industries driving US jobs and economic growth
A study from the US Chamber of Commerce’s Global Intellectual Property Center (GIPC), conducted by NDP Consulting, has revealed a direct and significant impact on jobs, productivity, and competitiveness in every state of the union.
The report – IP Creates Jobs for America – measures IP-intensive companies by inputs such as research and development (R&D) expenditures, the number of scientist and engineer (S&E) personnel, and by outputs such as patents, trademarks, and copyrights across all 50 states and the District of Columbia.
“This first of its kind study shows that intellectual property-intensive companies have a direct and significant impact on jobs,” said Mark Elliot, executive vice president of the GIPC. “Intellectual property’s economic contributions are evident across all states, large and small. For instance, nearly 90 per cent of Delaware’s exports originate from IP-intensive companies as do half of Iowa’s private sector jobs. In Kansas, IP-intensive companies produce $51.1 billion in output.”
The study finds that IP-intensive industries account for 55.7 million direct and indirect jobs, over $5 trillion in national gross domestic product, and 74 per cent of total US exports. The IP Creates Jobs for America project is intended to be a resource for legislators, policy-makers, and the public to better understand the vital role innovative and creative industries play in our broader economic well-being.
“Recent research by the Department of Commerce has shown that innovation and creativity are key drivers for economic growth and prosperity, with intellectual property-intensive industries driving America’s jobs and economic growth,” added Elliot. “Our study expands this data to capture the economic value of intellectual property outside the supply chain. This report makes the benefits of IP tangible, demonstrating that a wide cross-section of industries employing tens of millions of Americans reaching every corner of the US hinge on intellectual property rights and enforcement thereof.”
The Chamber’s Global Intellectual Property Center is working around the world to champion intellectual property (IP) rights as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.
The US Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.