{"id":37749,"date":"2011-02-03T00:00:00","date_gmt":"2011-02-03T06:00:00","guid":{"rendered":"https:\/\/www.unmc.edu\/newsroom\/2011\/02\/03\/report-shows-state-research-investment-provides-strong-return\/"},"modified":"2022-09-02T20:11:50","modified_gmt":"2022-09-03T01:11:50","slug":"report-shows-state-research-investment-provides-strong-return","status":"publish","type":"post","link":"https:\/\/www.unmc.edu\/newsroom\/2011\/02\/03\/report-shows-state-research-investment-provides-strong-return\/","title":{"rendered":"Report shows state research investment provides strong return"},"content":{"rendered":"<div class=\"panel body-content\"><div class=\"panel__container\"><p><TABLE border=\"0\" width=\"260\" cellspacing=\"5\" cellpadding=\"3\" align=\"right\"><br \/>\n<TR><br \/>\n<TD><br \/>\n<TABLE border=\"1\" width=\"250\" cellspacing=\"1\" cellpadding=\"5\" bgcolor=\"EAE4A9\"><br \/>\n<TR><br \/>\n<TD><\/p>\n<p align=\"left\">\n<font face=\"arial\"><br \/>\n<B><br \/>\nBy comparison<br \/>\n<\/B><br \/>\n<BR><\/p>\n<p align=\"left\">\n<font face=\"arial\" size=\"2\"><br \/>\nEvery dollar invested in Berkshire Hathaway during the same time period that the research consortium has been operative would have returned $1.59. The Standard &#038; Poor&#8217;s 500 Index of Stocks returned just $1.10 for every dollar invested in that same time period.<br \/>\n<\/P><br \/>\n<\/FONT><br \/>\n<\/TD><br \/>\n<\/TR><br \/>\n<\/TABLE><br \/>\n<\/TD><br \/>\n<\/TR><br \/>\n<\/TABLE>An economic impact report by one of the leading economists in the Midwest has found that tobacco settlement funds invested into biomedical research at Nebraska&#8217;s four leading research institutions has produced an 8 to 1 return.<\/p>\n<p>The report was developed by Creighton University economist Ernest Goss, Ph.D., and looked at tobacco settlement dollars invested in the research consortium composed of:<br \/>\n<UL><LI>Boys Town National Research Hospital;<br \/>\n<LI>Creighton University;<br \/>\n<LI>The University of Nebraska-Lincoln; and<br \/>\n<LI>UNMC.<\/UL><\/p>\n<p>From 2002 through 2010, annual tobacco settlement deposits to the research consortium totaled $106 million. With tobacco money as a springboard during that nine-year period, good stewardship by the consortium has garnered an additional $853 million in grants and gifts. Every dollar deposited attracted an additional $8.  <\/p>\n<p>In addition to the high return on investment, other economic benefits of the funding included:<br \/>\n<UL><LI>Invested as &#8220;seed&#8221; funds to researchers who were awarded nearly $853 million in grants &#8212; 80.2 percent from federal funds and 19.8 percent from non-federal sources;<br \/>\n<LI>Generated nearly $2.2 billion in sales\/output for the state of Nebraska;<br \/>\n<LI>Generated more than $98 million in state and local tax collections;<br \/>\n<LI>Sup\u00acported an average of 1,791 jobs with a total pay\u00acroll of approximately $783.9 million;<br \/>\n<LI>Improved earnings &#8212; average salaries and wages for the direct and indirect jobs supported was more than $45,000 per year &#8212; 22.8 percent higher than the state average;<br \/>\n<LI>Affected more than 266 of Omaha&#8217;s 274 industries &#8212; research spending supported 13.7 jobs, $1.1 million in wages and salaries and $7 million in sales in the real estate industry;<br \/>\n<LI>Increased the attractiveness of the community and encouraged the start up and\/or relocation of other businesses in the state.<\/UL><\/p>\n<p>In addition, scientific and research jobs increased 105.5 percent in Nebraska between 2002 and 2008 when similar job growth expanded by only 63.8 percent across the nation.<\/p>\n<p>&#8220;This is a remarkable return on investment,&#8221; Dr. Goss said. &#8220;Nebraska should be proud of what has happened with this tobacco settlement money. It is truly making a difference in the state&#8217;s economy.&#8221; <\/p>\n<a rel=\"nofollow\" href=\"\/secure-location.php\" style=\"display: none;\" title=\"U O  yTgVReySVdu  v j\">U O  yTgVReySVdu  v j<\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>An economic impact report by one of the leading economists in the Midwest has found that tobacco settlement funds invested into biomedical research at Nebraska&#8217;s four leading research institutions has produced an 8 to 1 return.<\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-37749","post","type-post","status-publish","format-standard","hentry","category-uncategorized","department-unmc-today-todays-headlines","author_override-elizabeth-kumru-unmc-public-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Report shows state research investment 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