University Research Parks are emerging as strong sources of entrepreneurship, talent and economic competitiveness according to a new report, “Characteristics and Trends in North American Research Parks: 21st Century Directions”, prepared by Battelle’ s Technology Partnership Practice (TPP) in partnership with the Association of University Research Parks (AURP).
A survey of 134 university research parks in the United States and Canada revealed that:
- University research parks in the United States and Canada encompass more than 47,000 acres and include 124 million square feet of space
- At full build-out, these research parks will include 275 million square feet of space
- More than 300,000 workers in North America work in a university research park
- Every job in a research park generates an average of 2.57 jobs in the economy resulting in a total employment impact of more than 750,000 jobs.
Research parks are emerging as strong sources of entrepreneurship, talent, and economic competitiveness for regions, states, and nations. They have become a key element in the infrastructure supporting the growth of today’ s knowledge economy. By providing a location in which researchers and companies operate in close proximity, research parks create an environment that fosters collaboration and innovation and promotes the development, transfer, and commercialization of technology (Figure 1).
Figure 1 – Research Park Concept