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University Research Corridor adds $15.5B to Michigan economy

January 31, 2013

The Michigan University Research Corridor (URC) helped create $2.6 billion in added economic impact in Michigan compared to similar figures released in 2007, according to a report released by the non-profit earlier this month. The URC is a consortium of the state's three research universities (Wayne State University, University of Michigan and Michigan State University) focused on helping creating synergies between Michigan's universities and increasing research that comes from them. Its more recent report shows the URC contributed $15.5 billion to the state's economy. One of the factors in that growth is the increase of spin-out companies from technology developed at Michigan's three research universities. In 2011, the three universities spun out 18 companies, which ranked it third against other similar innovation clusters. px