In May 2008, CO-LABS released a research report
of the economic impact of Colorado's federal
research labs. The research was conducted by
the Business Research Division of the CU Leeds School of Business.
Net Benefits
Federal research facilities and their university affiliates have a strong economic benefit on the State of Colorado, with net economic benefits estimated at $1.11 billion in FY 2007, $1.25 billion in FY 2008, and $1.55 billion in FY 2009. Boulder, Jefferson, and Larimer counties were the primary beneficiaries of the research facilities due to their physical location in these counties, as well as the residences of a majority of the facilities’ employees. Net economic benefits to Boulder, Jefferson, and Larimer counties totaled $376.7 million, $363.5 million, and $105.8 million, respectively, in FY 2007. Benefits to the Denver Metro region were estimated at nearly $490.6 million.
Employment
Employment at these facilities accounted for 6,210.5 direct jobs in Colorado and an additional 6,644 indirect employees in the community. These individuals provide goods and services to the research operations and to off-site employees.
Other Benefits
Visitors to the facilities added to the economic benefits, with 16,408 business-related visitors in FY 2007 staying
an average of 2.4 nights. The purposes of these visits included attending operational and administrative meetings, research collaborations, presentations,
training sessions, and conferences and seminars. Importantly, these visitors occupied Colorado lodging
and dining facilities.
The facilities occupy 4.7 million square feet of leased and owned real estate in Colorado. Construction at the studied facilities topped $12 million in FY 2007. Budgets indicate their construction expenditures in Colorado will increase to $54.7 million and $155.4 million in FY 2008 and FY 2009, resulting in nearly 3,460 total construction-related jobs over the three-year period.
Beyond the numbers, research is delivered to many constituents through outreach to schools, seminars, and public and private research collaborations. Colorado businesses and residents are among the beneficiaries of research conducted at these facilities, as well as companies that locate in Colorado to be near federal and academic research centers.
For a PDF copy of the Impact Report, click here.
For a summary of the report, click here.
Economic Impact by Lab.