Case Study: University of Illinois demonstrates research park economic impact with IMPLAN

The Economic Emergence of the Research Park at the University of Illinois

The Research Park at the University of Illinois faced the challenge of quantifying its economic value to secure ongoing community and legislative support. Despite its growth, the park lacked data-backed evidence to prove its regional impact in terms of jobs and revenue. To address this, they turned to the economic impact analysis software and data from their vendor, IMPLAN.

Using IMPLAN's input-output modeling software, the park analyzed a decade of its operational and construction data. The IMPLAN study revealed staggering results, including the creation of over 1,500 jobs from construction and nearly 2,000 from operations, generating over $169 million in economic output and millions in state and local tax revenue. This data successfully demonstrated the park's immense value, helping to justify its funding and secure its future growth.

University of Illinois