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Chamber Study Highlights California’s Innovative Contributions
WASHINGTON, D.C. — The U.S. Chamber of Commerce’s Global Intellectual Property Center (GIPC) today released a report highlighting California’s contributions to America’s innovation economy. This study is part of GIPC’s State Fact Sheets, which provide a look at the roles innovation and creativity play in each state. The report highlights local companies and facts demonstrating how innovation and creativity—which are safeguarded by strong IP rights—serve as a driving force behind economic recovery and future growth.
“Innovation and creativity are vital to California’s economy,” said Dr. Mark Esper, executive vice president of the Chamber’s GIPC. California is home to the heart of American entertainment, Hollywood, which contributes $9.4 billion to America’s international trade, and employs 1.3 million people. The software industry alone employs more than 41,000 Californians, totaling over $5 billion in wages.
Esper noted examples of innovation and creativity in California. In 2007, California’s innovators received 22,595 patents, which is more than 24% of all domestic U.S. patents issued. Employing 266,000 Californians, the motion picture and television industry alone contributed $42.5 billion to the state’s economy in 2005.
“Indeed, Californians are proven innovators,” said Esper. San Franciscan, Philo Farnsworth invented the electronic television system in 1930, while Charles Ginsburg invented the video tape recorder in 1951. Additionally, the world’s first single chip microprocessor was invented by the California team of Federico Faggin, Ted Hoff, and Stan Mazor. “America has a unique story to tell, and California plays a large role in this story. Innovation and creativity are essential to economic growth and human advancement, and California’s IP contributions reflect this.”
The California State Fact Sheet is intended to be a resource for legislators, policymakers, and the public to identify successful companies, inventors, creative artists, and innovators to better understand the role they play in our economy and society. As part of an easy-to-use, interactive map, the State Fact Sheet project can be accessed online at www.theglobalipcenter.com, as well as in a printable format.
The Chamber’s Global Intellectual Property Center is working around the world to champion intellectual property (IP) as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.
The U.S. Chamber is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
Global Innovation Policy Center @globalIPcenter 2h
“Waiving drug companies' intellectual property rights risks setting a bad precedent for future investment in new drugs. And that risk may not be worth it without additional steps to meaningfully increase the availability of shots across the world.” https://t.co/UE6nqe8Cyb