UA Tech Park Has $55M Impact, Study Finds
The University of Arkansas released findings Monday from a study that says its Arkansas Research & Technology Park had a $55 million impact on the the state economy in the fiscal year 2013-14.
The UA tech park is home to several Innovate Arkansas client firms.
The study was conducted by the Center for Business and Economic Research at the UA's Walton Business College as part of a larger study on the overall economic impact of the university.
More on that study here.
Specifically, the study found that the tech park "ended fiscal year 2014 with 38 public/private affiliate companies and 196 employees, resulting in a total employment impact of 385 jobs statewide."
Last fall, in a separate analysis, the center’s researchers determined that the research park has had an economic impact of more than a half-billion dollars since construction on the park began in 2003. The center found that labor income associated with the tenant companies totaled $189.5 million from 2005 to 2014, and the research park’s overall economic impact on the state from 2003 to 2014 totaled $522.9 million.
The mission of the University of Arkansas Technology Development Foundation is to stimulate the knowledge-based economy in Arkansas through partnerships that lead to new opportunities for learning and discovery, that build and retain a knowledge-based workforce and that spawn the development of new technologies to enrich the economic base in Arkansas.
Good stuff. Full story here at the revamped UA Newswire.