Study measures economic impact of intellectual property
by MBJ Staff
Published: August 8,2012
JACKSON — A national study shows intellectual property (IP) is a huge contributor to Mississippi’s economy and thus directly indicates the importance of protecting intellectual property rights through enforcement, Attorney General Jim Hood reports.
The state intellectual property jobs study, titled “IP Creates Jobs for America,” was released by the Global Intellectual Property Center at the U.S. Chamber of Commerce. The report builds on an earlier report, which had focused on IP-intensive industries throughout the supply chain. This new report takes into account the economic contributions of IP outside the supply chain and its broad impact on the U.S. economy.
“This first of its kind study shows that intellectual property-intensive companies have a direct and significant impact on jobs, productivity, and competitiveness in every state of the union,” said Mark Elliott, executive vice president of the GIPC. “Intellectual property’s economic contributions are evident across all states, large and small.”
Some of the findings include:
• IP supports 440,685 jobs in Mississippi, which is 46 percent of our state’s private sector jobs. Of these, 171,543 (18 percent) are direct IP jobs; 269,142 (28 percent) are indirect.
• IP-intensive companies generate 68 percent greater output per employee (the average output per private sector employee is $64,870 while the average output per IP employee is $109,124). In Mississippi, $109,124 of output per IP job creates a total of $202,558 output in the state economy.
• Of $10.9 billion in total exports, $9.2 billion (84.4 percent) is attributable to IP exports; 58,528 jobs are created by IP exports in Mississippi.
• In Mississippi, IP-intensive companies pay 27 percent higher than non-IP companies (the average wage per private sector employee is $30,830 vs. $39,223 in average wages per IP employee); $39,223 wages paid to an IP job creates a total of $85,455 wages in the state.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Study measures economic impact of intellectual property”
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- White House hotel making comeback in Biloxi
- McCarthy hired as CFO of Mississippi Development Authority
- State GOP chairman calls on McDaniel to hurry with challenge
- Fair cabins becoming more valuable, sources say
- MARTIN WILLOUGHBY — Tyler Raborn finds success and fulfillment with Raborn Media
- Guns OK inside Mississippi polling places, attorney general says
- Three indicted, alleged to have embezzled from agency
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Supreme Court deals blow to McDaniel's election challenge
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau