NIH research funding in Vermont: $66.4 million, 1,026 jobs

Vermont Business Magazine A new report reveals that the $66.4 million in National Institutes of Health (NIH) research grants awarded to Vermont last year supported 1,026 jobs and $146 million in economic activity. The University of Vermont received the lion’s share of grants, worth approximately $60 million in 2021. See Vermont’s grant recipients for the past three years below.

According to a report released Monday by United for medical research (UMR), National Institutes of Health (NIH) research funding supported 552,444 jobs and generated $94.18 billion in economic activity last year – or $2.60 in economic activity for every research funding dollar.

The report, The role of the NIH in supporting the US economyexamines the national and state impact of NIH research funding.

“As this report shows, even before a single discovery is made, NIH research funding has a positive economic impact on people and communities across the United States,” said the president of the NIH. UMR, Chris Austin. “While the role the NIH plays in saving and improving lives is well known, fewer people are aware of its critical impact on our economy – from supporting jobs and economic activity, as this report illustrates, fueling the basic research and discovery that keeps America at the forefront of biomedical innovation.

More than 80% of the NIH budget is awarded each year in the form of grants, directly and indirectly supporting jobs. The income generated from these jobs, as well as from the purchase of research-related equipment, services and materials, when circulating in the economy, produces new economic activity. In fiscal year 2021, $35.73 billion was awarded to researchers in all 50 U.S. states and the District of Columbia.

The states that saw the largest percentage increase in awards in 2021 were: Delaware, Mississippi, North Dakota, Alaska and Arkansas. In 26 states, at least 5,000 jobs have been supported by NIH research, and 31 states have seen at least $500 million in new economic activity as a result. In 22 states, new economic activity exceeded $1 billion.

Since 2016, Congress has granted consecutive increases to the NIH budget. Compared to FY2015, NIH budget increases in FY21 resulted in $12.91 billion in additional grants for researchers, $33.46 billion in more economic activity, and 200 095 additional jobs. Steady NIH budget gains are helping to restore the agency’s buying power after more than a decade of stagnant funding. However, accounting for inflation, NIH appropriations remain below their 2003 peak.

“We are extremely grateful to the champions of medical research in the U.S. House and Senate who spearheaded recent increases in NIH funding. They advance cures, help communities nationwide thrive, and maintain America’s leadership in a critical area,” Austin said.

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UMR is a coalition of leading research institutions, patient and health advocates, and private industry seeking steady and sustainable increases in funding for the National Institutes of Health in order to save and d improve lives, advance innovation and stimulate the economy.

WASHINGTON, DC – United for medical research 03/22/2022