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U.S. Chamber Study Highlights Nevada’s Innovative Contributions
The U.S. Chamber of Commerce’s Global Intellectual Property Center (GIPC) today released a report highlighting Nevada’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 Nevada’s economy,” said Dr. Mark Esper, executive vice president of the Chamber’s GIPC. “The Nevada economy depends on the spirit of innovation and entrepreneurism,” added Esper. Due to the state’s large number of innovative startup companies, Nevada was ranked first nationally in job creation by the 2007 Kauffman Institute New Economy Index. In 2004, public and private research and development investment topped $600 million, contributing to the 450 patents received by Nevada’s innovators.
Esper also noted examples of innovation and creativity in Nevada. Film and television production contributed to $179 million in local wages in 2007 and 2008, and in 2008, the number of businesses that were involved with copyrighted works grew to 5,100 – an increase of over 10% from the previous year. Reno-based International Game Technology (IGT), which employs 3,000 Nevadan’s, reported $2.6 billion in revenue in 2007 from its innovative game designs. Ormat Technologies received more than 75 patents in geothermal and other renewable energy technology and reported $296 million in revenue in 2007.
“Indeed, Nevadans are proven innovators,” said Esper. “Reno tailor Jacob Davis developed the design for blue jeans before later partnering with Levi Strauss, and University of Nevada professor Alessandro Dandini invented the first three-way light bulb. America has a unique story to tell, and Alabama plays a large role in this story. Innovation and creativity are essential to economic growth and human advancement, and Alabama’s IP contributions reflect this.”
The Nevada 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.
For more information, please contact Trinh Nguyen at 202-463-5379.