$3.8B Investment in Human Genome Project Drove $796B in Economic Impact Creating 310,000 Jobs and Launching the Genomic Revolution

  • Martine Grosjean profile
    Martine Grosjean
    29 April 2015 - updated 3 years ago
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Author(s): 
Batelle Memorial Institute
Year of publication: 
2011

The $3.8 billion the U.S. government invested in the Human Genome Project (HGP) from 1988 to 2003 helped drive $796 billion in economic impact and the generation of $244 billion in total personal income, according to a study released today by Battelle. In 2010 alone, the human genome sequencing projects and associated genomics research and industry activity directly and indirectly generated $67 billion in U.S. economic output and supported 310,000 jobs that produced $20 billion in personal income. The genomics-enabled industry also provided $3.7 billion in federal taxes during 2010. The report also outlines significant breakthroughs the Human Genome Project, and a companion private project from Celera Genomics, have made possible in just the first ten years since the reference human genomes were published. Advancements include new approaches to medicine, greater productivity in agriculture and potential sources of renewable energy. The study also forecasts the creation of significantly more jobs in the future as new companies and new industries continue to form around the expanded knowledge of human DNA model organism genomes and advances in genomics technology. “From a simple return on investment, the financial stake made in mapping the entire human genome is clearly one of the best uses of taxpayer dollars the U.S. government has ever made,” said Greg Lucier, chief executive officer of Life Technologies, whose foundation sponsored Battelle’s analysis. “This project has been, and will continue to be, the kind of investment the government should foster…ones with tangible returns. “The initial dollar investment has already been returned to the government via $49 billion paid in taxes. Now we sit at the dawn of the ‘Genomics Revolution’ and all humankind will reap the benefits as we transfer what we now know about the human genome into major breakthroughs including: new forms of ‘personalized medicine’ and genetics therapy better suited to solving the problems we all care so much about, such as cures for cancer, cardiovascular diseases, Alzheimer’s, HIV/AIDS and many more terrifying diseases. These major advancements are rapidly creating multiple new industries and companies and those companies are creating quality jobs for thousands of people. Life will be even better for all of us thanks to the HGP,” Lucier said.