Information Regarding the Stimulus Package
Penn Economic Impact Statements for Recovery Act Proposals
The University of Pennsylvania is a critically important economic driver for the Southeastern Pennsylvania region, encompassing a workforce in excess of 32,000 faculty and staff, a student body drawn from across the globe consisting of more than 20,000 fulltime undergraduate and graduate students, an annual operating budget in excess of $5.5 billion, a fully integrated, nationally acclaimed health system, and a world class research enterprise fueling new and important discoveries. Penn’s aggregated annual economic impact is estimated to be approximately $10 billion and University activities sustain more than 100,000 jobs according to several studies.
With approximately $800 million dollars in total sponsored awards in the last fiscal year, the Penn research enterprise can account for a significant portion of the University’s annual operating budget and is one of the principal reasons why the University is the largest private employer in the city of Philadelphia. Penn research awards support the investigative activities of over 2,300 faculty investigators as well as translational and clinical research projects conducted in the University’s health system and are vital to the long term health of our region and the nation.
Penn investigators frequently disclose new, breakthrough discoveries of commercial interest, with 332 reported in the last fiscal year alone and greater than 1500 over the course of the last 5 years. Penn employs a dedicated staff to actively engage industry partners in moving investigator discoveries from lab to market, yielding considerable societal and economic benefits. In addition to finding established partners to commercialize University discoveries, Penn investigators have been responsible for over 100 new companies being formed, most of which are still active and headquartered in the Southeastern Pennsylvania region.
[Note: Please remember to include within stimulus-related proposal submissions the expected number of jobs created and sustained that will result from an award being issued.]
For more information
or any questions
Office of the
Vice Provost for Research