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The Regional Economic Impacts of University Research and Science Parks

Author

Listed:
  • Kelsi G. Hobbs

    (University of North Carolina at Greensboro)

  • Albert N. Link

    (University of North Carolina at Greensboro)

  • Terri L. Shelton

    (University of North Carolina at Greensboro)

Abstract

This paper focuses on the regional economic impacts of US 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 USA 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

  • Kelsi G. Hobbs & Albert N. Link & Terri L. Shelton, 2020. "The Regional Economic Impacts of University Research and Science Parks," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(1), pages 42-56, March.
    • Handle: RePEc:spr:jknowl:v:11:y:2020:i:1:d:10.1007_s13132-018-0566-5
    DOI: 10.1007/s13132-018-0566-5
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. Albert Link & John Scott, 2006. "U.S. University Research Parks," Journal of Productivity Analysis, Springer, vol. 25(1), pages 43-55, April.
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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.

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    More about this item

    Keywords

    University research and science park; Public accountability; Public engagement; Economic impact; Higher education;
    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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