University Research Corridor (URC), comprised of Michigan State University, the University of Michigan, and Wayne State University, is responsible for generating $15.5bn for the US state in 2011, according to a recently conducted economic impact report.

The figure was $2.6bn more (or 20% higher) than a similar report conducted in 2007. The URC was also responsible for more than 74,000 direct and indirect jobs statewide, and boosted tax intake for Michigan by $375m in 2011.

During the year, the URC backed 18 start-up firms, ranking it behind only Southern California and Massachusetts university innovation clusters, and bringing its total start-ups to 147 since 2002.

The URC also said in a press release that it had seen its research and development spending grow by 43% between 2007 and 2011 to over $2bn, and for every dollar the state invested in the three universities, Michigan saw $17 in economic benefits. The…

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