North Carolina Council of Graduate Schools
Graduate education…benefits North Carolina's economy
Graduate research attracts new businesses, reinforces existing ones, and encourages the creation of startup companies that generate new jobs and increase revenues for North Carolina. For example, with over $48.5 million in grants and contracts, NC A&T advanced economic growth, national security, and biomedical research. At UNC-CH, $803 million in research funding for the fiscal year 2010 generated approximately $1.37 billion in economic impact numerous jobs for the state's economy.
Graduate research benefits the economy through invention disclosures, patents, and licenses. For example, research conducted at NC A&T includes nanotechnology, advanced materials, agriculture and biology with over 50 patents and 4 spin-off companies. UNC-CH and NCSU together disclosed more than 250 inventions and issued more than 60 new patents in 2008.
Advanced-degree graduates pay higher state taxes. Seventy-nine percent of graduate and first professional students are North Carolina residents, and many are likely to remain in the state after graduation.
Knowledge exchange between universities and companies, such as those in Research Triangle Park, creates new jobs, produces innovative technologies, and increases state revenues.