Investing in Research: Good for Patients, Good for the Economy, Good for America!

Government-sponsored research is critically important to our modern economy. According to a report compiled by Families USA, a national healthcare advocacy group, the NIH awarded approximately $22.8 billion in 2007 to universities and research organizations in the 50 states. These awards created a multiplier effect, resulting in over $50 billion in new business and economic activity throughout the US. According to the report, “In fiscal year 2007, every $1 million that NIH invested generated $2.21 million in new state business activity.”

Click here to read more about how research investment spurs state economic growth through the “multiplier effect.”

Research!America is urging Congress to include an additional $11.1 billion for research in the economic recovery package. This includes an additional $8.6 billion in funding for NIH and represents nearly a 30% increase over the current allocation. In 2008, the NIH budget was $29.2 billion. While this is a considerable sum, it is actually a decrease from the funding levels of 2007 when inflation is taken into account. Consequently, additional research is needed more than ever to make up for recent deficiencies.

Based on the multiplier effect described by the Families USA report, an incremental $8.6 billion in NIH research would create over $16B in economic growth at the state level, with benefits including:

1. The continuation and completion of current research projects and the initiation of much needed research projects that were not funded because funding has not kept pace with inflation in recent years.
   
2. Improved patient care based on research that improves treatment options and generates strategies for prevention. This, in turn, can provide further cost savings through prevention programs, and decrease long-term care costs.
3. Economic stimulus that creates high-tech, medical-related jobs, resulting in sustainable economic growth that will pay dividends far into the future.

The Caring for Carcinoid Foundation supports the allocation of additional research funding and its overall positive impact on patients and the economy. CFCF is proud to be a member and strong supporter of Research!America. CFCF was the first Carcinoid/NET non-profit foundation to join Research!America, which is leading the way in making our voices heard in Congress.

In these tough economic times, CFCF’s role in driving scientific discovery becomes even more critical. In addition to driving scientific progress and a better future for patients, CFCF’s research investment has the added impact of providing economic stimulus to the economy. By investing in the Caring for Carcinoid Foundation and supporting leading researchers, your dollars have the added impact of providing economic stimulus to our national economy!