Tangible Return on Investment
Responsible for 34,000 jobs, healthcare and life science rivals Fedex as Memphis’ largest employer.
- More than half are engaged in academic or research-related work.
- Research creates jobs directly for the investigator, research team, lab technicians and others who help support the work and indirectly, through business with suppliers and other channels.
In 2010, Memphis research created:
- At least $0.84 in wages for every research dollar spent
- 19 direct and indirect jobs per $1 million in research expenditure
Memphis research currently supports around 11,000 high-quality jobs
- Average wages for Memphis research jobs are around $60,000
- Total wages are around $635 million
With proper investment, Memphis will grow more than 30% by 2020
- Projected annual new jobs by 2020: 325
- Projected new wages by 2020: $19.4 million