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Copyright Creates Jobs. Period.
By Brian Noyes
Imagine the U.S. economy minus the entire state of New York. While such a reality may be to New Jersey’s or the West Coast’s delight, the economic impact stemming from a state the size of New York adds to the U.S. economy as a whole, producing huge contributions to national exports, GDP, and jobs.
The same can be said for the copyright community, which according to a new report by the International Intellectual Property Alliance (IIPA) generates $1 trillion to the U.S. economy, nearly equaling the size and scope of the Empire State economy.
The fact that copyright accounts for 6.5% of the total economy shouldn’t come as a shock. For those who watch the economy, this summer’s stunning Department of Commerce announcement of the revision of historical and future U.S. GDP numbers showed the significant impact to the economy by taking into account the immense investments put forth by the creative community.
But the bottom line for all of this comes in one word: jobs. We all know that IP creates jobs, but now the IIPA study is able to drill a level further, finding that specifically copyright industries supply 5.4 million of them.
In a press release, co-chair of the Congressional Creative Rights Caucus Rep. Judy Chu said:
“not only do U.S. copyright industries develop the creative works that inspire and entertain so many, they also provide high paying jobs and spur economic activity, consistently contributing to a trade surplus and adding substantial value to our GDP. This is why we must preserve and protect the works of our creative industry, so they can continue to drive economic growth and innovation with a uniquely American product.”
Much like the cultural relics copyright produces, from films to music and software and literature, the IIPA study reinforces the fact that copyright is a national treasure which deserves promotion, protection, and attention.
Global Innovation Policy Center (GIPC) @globalIPcenter 1h
As part of @USChamber’s #CallingOnCongress series, @SuzanneUSCC highlights the priorities Congress can and must address to combat inflation and boost our economy, including: the workforce shortage, energy security, trade, and permitting reform. https://t.co/5jB8PABOjf