Economic Impact

Results and Economic Impact

ONAMI has been widely cited as national model for state innovation-based economic development investments. Since Oregon is neither a large nor wealthy state (notwithstanding its world-class tech industry community), the resources available to ONAMI have been comparatively modest: $20M in capital construction funds (2005, and more than matched by industry and philanthropic contributions—special thanks to Hewlett-Packard Company, Lorry I. Lokey and FEI Company) and $22M in operating funds (2004-2011). These have been invested in research capacity, shared user facilities and assistance to early stage technology companies with specific economic development outcomes (revenue to state-based entities, high-wage job creation/retention, attractiveness to industry and funds considering Oregon investments).

Selected examples of outcomes to date:

  1. Federal dollars leveraged—$185 Million Nanoscience and microtechnology research awards to ONAMI members from Federal and private sources have risen from $9M in FY2004 before ONAMI was incorporated, to $43M in FY2010. The total net research awards from FY05 through the first half of FY2011 exceed $185M.
  2. Business start ups—21, $70 Million Funding The ONAMI Gap Grants program matches technology from the Universities with entrepreneurial expertise from the business community. To date, 21 Gap Grants have been made to University - Startup projects. These entrepreneurial projects have garnered over $70M in venture and capital funding ($5M federal and $65M private).
  3. Number of people employed—86 + 1700 Half way through FY2011, there were 86 full-time-equivalent jobs reported by the Gap Grant companies. This figure continues to grow, especially due to the success of Home Dialysis Plus, which received the highest A-round funding in Oregon history in early 2010. In addition, $43M in research grants supports over 1700 jobs (standard models indicate that $1M in research supports 41 jobs).
  4. Revenue to the state—$290Million to-date

    Federal and Private Research Awards to ONAMI members (including $55M in Federal earmarks/presidential budget items) $185M
    External venture capital to Gap Grant companies >$70M
    Major Corporate Gifts (equipment, facilities and services) $35M

  5. Patents—21
    Since 2005, ONAMI Member Researchers have filed 211 Invention Disclosures and received 21 Patents in nanoscience or microtechnology.

4/29/11

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