Human Genome Project Creating New Jobs

Human Genome Project Creating New Jobs

05.12.11 | By

Battelle, the world's largest independent research organization, is out with a new report on the economic impact of the human genome project. The headline from the report is that the "$3.8 billion investment in the Human Genome Project drove $796 billion in economic impact creating 310,000 jobs and launching the genomic revolution."

The four main conclusions reached in the Battelle study are:

  • The economic and functional impacts generated by the sequencing of the human genome are already large and widespread. Between 1988 and 2010 genome sequencing projects, associated research and industry activity-directly and indirectly-generated an economic (output) impact of $796 billion, created 3.8 million job-years of employment (310,000 jobs in 2010) with personal income exceeding $244 billion (an average of $63,700 in personal income per job-year).
  • The federal government invested $3.8 billion in the HGP from 1990-2003 ($5.6 billion in 2010 dollars). This investment was foundational in generating the economic output of $796 billion above, and thus shows a return on investment (ROI) to the U.S. economy eof 141 to 1, meaning that every $1 of federal HGP investment has contributed to the generation of $141 in the economy.
  • Overall, however, the impacts of the human genome sequencing are just beginning-large scale benefits in human medicine and many other diverse applications are still in their early stages. The best is truly yet to come.
  • The HGP is arguably the single most influential investment to have been made in modern science and a foundation for progress in the biological sciences moving forward.

The report is but a further example of the value of investing in innovative research and development and the potential for innovation to both provide new medical solutions for patients while helping to stimulate the economy and create new jobs.

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