URI Economic Impact Report - Autumn 2020

At URI, we discover, create, and innovate to understand, protect, and improve our community and our world. Across our campus, you will find scholars and researchers examining the entire range of human knowledge and experience. Much of this work, such as studying the effects of microplastics pollution, producing leading documentary films, expanding renewable energy, developing groundbreaking approaches to explosives detection, or improving health care and supply chains, will have substantial impacts on our society and economy. This fervor for pushing boundaries, cultivating diverse scholarship, and inspiring the next generation of leaders is fundamental to the URI experience. It defines us as a global research university. We honor and value the public trust placed in us by the citizens of Rhode Island. We are committed to serving the people of our state and nation with perseverance and devotion.

EXECUTIVE SUMMARY The University of Rhode Island serves as the state’s major public research university, and its wide-ranging scientific research and economic development programs contribute substantially to the economic health of our community. This economic impact assessment reviews these contributions by the University in service to the state of Rhode Island. The economic impact on the state of Rhode Island of these URI programs amounted to $308.5 million in FY19, supporting 1,182 Rhode Island jobs. The activities described in this report included contributions of $166,060,000 by scientific research; $444,600 by technology transfer and commercialization; and $142,006,950 by entrepreneurship and innovation activities. This represents a 61 percent increase over 2012, which is the last time the University assessed its similar impact. For every dollar of state appropriation, the University’s Division of Research and Economic Development returns $1.25, or 25 percent, in external research awards and $3.50, or a 250 percent return, in terms of the economic impact to the state and its constituents.

URI’S RESEARCH AND ECONOMIC DEVELOPMENT MISSION To enable, support and safeguard URI’s mission as the state’s Land- and Sea- Grant research institution. To accelerate research that will lead to improved understanding and response to critically important human and environmental health concerns. To catalyze novel research, scholarly and creative pursuits across the University and across all domains of intellectual curiosity.

David M. Dooley President

Professor of Biomedical & Pharmaceutical Sciences Angela Slitt

URI RESEARCH IMPACTING TECHNOLOGY AND HEALTHCARE IN RHODE ISLAND URI research is advancing the testing for COVID-19. Professor of Biomedical & Pharmaceutical Sciences Angela Slitt has partnered with Thermo Scientific, to adapt the company’s 96-well plate assay into a COVID-19 diagnostic testing mechanism which would ideally be capable of testing nearly 2000 samples in six hours. Slitt’s objective is to get the test approved for use under the FDA’s Emergency Use Authorization in the fall of 2020. Slitt believes the team’s methods have even shown potential to be more accurate than the current PCR test being used.

We are delighted to share our Research and Economic Development Impact Report, which reflects the growth of our University programs for the betterment of our community, over nearly the past two decades. Since our last reports in 2002 and 2012, the University’s research and economic activities have expanded immensely, and we have reached our long-time goal of becoming a $100 million research institution. During the past four years, our grant and contract expenditures have increased by 20 percent. And, since 2012, we have brought the Rhode Island Small Business Development Center under our purview to aid local startups and sustain established small businesses statewide. We are also home to the Polaris Manufacturing Extension Partnership, which has provided an extremely effective service to support Rhode Island manufacturers.

URI R&ED IMPACT

$350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0

$308,511,550

$190,692,835

Peter J. Snyder, Ph.D Vice President for Research and Economic Development

$96,709,251

To support innovative strategic partnerships on a global scale.

Figure 1. Comparative Annual R&ED Impact Between FY2002 and FY2019

ECONOMIC IMPACT REPORT 2020 3

2 The University of Rhode Island