2,688,497 jobs in Ohio. $922.8 billion in economic output in California. 77.7 percent of total exports in Illinois. $66,208: the average wage of a Washington IP job.
Those figures represent a snapshot of the results of a new study released today by the U.S. Chamber of Commerce, breaking down the contribution of Intellectual Property to each individual state’s economy. Intellectual property can refer to everything from inventions to creative works such as movies, books or television shows.
The report, IP Creates Jobs for America, “measures IP-intensive companies by inputs such as research and development (R&D) expenditures, the number of scientist and engineer (S&E) personnel, and by outputs such as patents, trademarks, and copyrights.”
“The study finds that IP-intensive industries account for 55.7 million direct and indirect jobs, over $5 trillion in national gross domestic product, and 74 % of total U.S. exports,” the Chamber of Commerce stated in its press release.
Here are a few more state examples:
- In New York, 2,778,568 IP-related jobs, which is 36 percent of the state’s total private-sector jobs, generate $385.8 billion in economic output and exports $52.8 billion a year.
- In California, 7,386,553 IP-supported workers generate $922.8 billion in economic output and $122.4 billion in exports.
- In Georgia, 1,853,604 IP-related jobs, which is 52 percent of the state’s total private-sector jobs, generate 77.2 percent of total exports.
- In North Carolina, 1,774,024 IP-supported workers generate $197.2 billion in economic output and $21 billion in exports.
- In New Mexico, 164,461 IP-supported workers represent one quarter of the state’s total private-sector jobs and generate 82.2 percent of total exports.
- In Michigan, 1,949,043 IP-related jobs, which is 55 percent of the state’s total private-sector jobs, generate $169.3 billion in economic output and pay an average salary 30 percent higher than non-IP jobs.
Want to learn more? Visit ipcreatesjobs.com to see the economic impact of Intellectual Property in your state.