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The Regional Economic Impacts of University Research and Science Parks

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  • Link, Albert

    (University of North Carolina at Greensboro, Department of Economics)

  • Hobbs, Kelsi

    (University of North Carolina at Greensboro, Department of Economics)

  • Shelton, Terri

    (University of North Carolina at Greensboro, Department of Economics)

Abstract

This paper focuses on the regional economic impacts of U.S. university research and science parks. Motivating this focus is the fact that the landscape for private-sector research is changing, and future research might well emphasize America’s “new geography of innovation.” Thus, university research and science parks might face, if they are not already doing so, pressure to retain current tenants and competition for future tenants. We find that only 11 of 146 research and science parks in the United States have, in the spirit of public accountability, conducted an economic impact study. One reason for the paucity of such studies is that universities are unfamiliar about how to conduct as well as how to interpret the findings from such a study. We offer an economic impact method for park administrators to follow if they proceed to document the regional economic impact of their park.

Suggested Citation

  • Link, Albert & Hobbs, Kelsi & Shelton, Terri, 2018. "The Regional Economic Impacts of University Research and Science Parks," UNCG Economics Working Papers 18-7, University of North Carolina at Greensboro, Department of Economics.
    • Handle: RePEc:ris:uncgec:2018_007
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    References listed on IDEAS

    as
    1. Link, Albert N. & Scott, John T., 2003. "U.S. science parks: the diffusion of an innovation and its effects on the academic missions of universities," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1323-1356, November.
    2. Raffaele Trequattrini & Rosa Lombardi & Alessandra Lardo & Benedetta Cuozzo, 2018. "The Impact of Entrepreneurial Universities on Regional Growth: a Local Intellectual Capital Perspective," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(1), pages 199-211, March.
    3. Andrea Vargiu, 2014. "Indicators for the Evaluation of Public Engagement of Higher Education Institutions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 5(3), pages 562-584, September.
    4. Albert Link & John Scott, 2006. "U.S. University Research Parks," Journal of Productivity Analysis, Springer, vol. 25(1), pages 43-55, April.
    5. Kelsi G. Hobbs & Albert N. Link & John T. Scott, 2017. "The growth of US science and technology parks: does proximity to a university matter?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 59(2), pages 495-511, September.
    6. Albert N. Link & John T. Scott, 2007. "The economics of university research parks," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(4), pages 661-674, Winter.
    7. Eric S. Howard & Albert N. Link, 2019. "An Oasis of Knowledge: the Early History of Gateway University Research Park," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(3), pages 1037-1063, September.
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    Cited by:

    1. Alberto Albahari & Andrés Barge-Gil & Salvador Pérez-Canto & Paolo Landoni, 2023. "The effect of science and technology parks on tenant firms: a literature review," The Journal of Technology Transfer, Springer, vol. 48(4), pages 1489-1531, August.
    2. Taiane Quaresma Leite & André Luis Silva & Joaquim Ramos Silva & Sérgio Evangelista Silva, 2023. "A Multilevel Analysis of the Interaction Between Science Parks and External Agents: a Study in Brazil and Portugal," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1790-1829, June.

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    More about this item

    Keywords

    University research and science park; Public accountability; Economic impact;
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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