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Archived updates for Friday, November 18, 2005

IP Industries Driving U.S. Economic Growth

In "Engines of Growth: Economic Contributions of the U.S. Intellectual Property Industries," Stephen E. Siwek of Economists Incorporated, presents a variety of statistical measures that quantify the economic contributions of these industries to the U.S. private sector and to the U.S. economy as awhole. Here some of his findings:
  • The IP industries are major growth drivers of the current U.S. economy,
    contributing nearly 40% of total growth today, significantly outpacing the
    country’s overall growth rate.
  • GDP 10-year growth estimates would be approximately 30% lower than current
    predictions without the contributions of the IP industries.
  • In 2003 IP Industries comprised nearly 20% of the U.S. private industry’s total contribution to GDP and nearly 40% of the GDP of U.S. exportable products and services.
  • The IP industries are among the largest employers in the country, with nearly
    18 million workers. Also, the IP industries pay a significantly higher wage to
    its employees than most other industries.
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January 06, 2006 10:10 AM  
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April 07, 2009 4:01 AM  

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