Intellectual property is a proven driver of U.S. economic growth. In a first-of-its-kind report, the GIPC found that IP creates jobs, spurs R&D, exports, and output in all 50 states and the District of Columbia. Click here for the executive summary and please visit www.IPCreatesJobs.com for our individual state fact sheets.
WASHINGTON, D.C. — Speaking at an event hosted by the White House today, U.S. Chamber of Commerce President and CEO Thomas J. Donohue hailed intellectual property (IP) as a catalyst to America’s job creation and economic growth. Donohue pledged to continue to work with all stakeholders to champion IP protection at home and abroad while highlighting the findings of Intellectual Property and the U.S. Economy: Industries in Focus report—an economic study by the U.S. Department of Commerce that ties employment and value-added numbers to IP-intensive industries.
“If we’re going to continue to be the most innovative economy on Earth, we must ensure that American IP-intensive industries remain confident that their copyrights, patents, and trademarks will be enforced,” said Donohue.
Innovation is a key determinant of the global competitiveness of American businesses. IP companies are those who produce intellectual property (IP) or who apply IP in producing their goods and services. IP companies contribute substantially to U.S. output and employment and generate a large number of well-paying jobs for both white- and blue-collar workers. Based on the latest U.S. offi cial data, we estimate that, in 2008, IP companies in manufacturing and nonmanufacturing sectors employed more than 19 million workers and accounted for 16.3 percent of U.S. employment. In the same year, IP companies generated about $7.7 trillion in gross output, accounting for 33.1 percent of U.S. gross output. The innovation emanating from these companies is a key driver of sustained long-term economic growth and productivity, which are especially important in light of the current sluggish economic recovery and high unemployment.