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A Recovery Act Success Story: NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry Growth, and Helping Reduce Long-term Health Care Costs
Date:1/20/2010

Twenty leading US research institutions, patient advocates and biomedical industry release report on the benefits of NIH funding through the 2009 Recovery and Reinvestment Act

WASHINGTON, Jan. 20 /PRNewswire-USNewswire/ -- In advance of the one-year anniversary of the Recovery and Reinvestment Act's enactment on February 17, twenty of the nation's leading research institutions, patient advocates and biomedical industry have released a detailed report on how Recovery Act funding of medical research through the National Institutes of Health (NIH) is at work across the country in the service of better health and a healthier economy.

The new report, Investing in Recovery and Discovery by United for Medical Research (UMR), documents how the $10.5 billion infusion in 2009 and 2010 has come at a propitious time for both the US economy and the nation's biomedical research enterprise.  

The investment is creating and preserving jobs, laying the foundation for industry growth, and helping to reduce long-term health care costs.  The NIH estimates that the funding is saving or preserving 50,000 jobs in research institutions and organizations around the country.  But the full value of the investment is far greater.  Dr. Steve Fluharty is Vice Provost for Research at the University of Pennsylvania, which is a member of UMR, and which received $169 million in stimulus funds for biomedical research.  He explains, "When it comes to NIH stimulus funding, we are truly talking about recovery and reinvestment.  The impact goes beyond the lab and into the companies that supply many of the 325,000 NIH-funded researchers across the country with the tools, technology and
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SOURCE United for Medical Research
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