CANARIE releases economic benefits analysis

A report commissioned by CANARIE demonstrates that every $1 of federal investment in the high-speed research and education network generates nearly $3 in economic benefit. The report by Nordicity Group Ltd and Bytown Consulting concludes that the federal government's average annual investment of $28.2 million generates $80.3 million to Canada's gross domestic product. That breaks down into highly qualified personnel ($13.3 million), increased research productivity ($11.9 million), commercialization of products and services ($7.5 million), network cost savings for research institutions ($5.9 million), spillover effects of R&D funding ($14.8 million) and direct spending by CANARIE ($27 million). The economic impact analysis was based on a literature review, an on-line survey and a review of empirical research on the relationship between R&D outputs and economic performance. CANARIE's five-year mandate ends March 31/12 and it is currently seeking renewal for another five years….