Economic Analysis of the Oregon Nanoscience and Microtechnologies Institute
O'Connor, A., & Martin, S. A. (2009, June). Economic Analysis of the Oregon Nanoscience and Microtechnologies Institute. Presented at IASP World Conference on Science and Technology Parks (2009), RTP, NC.
Oregon Nanoscience and Microtechnologies Institute (ONAMI) is a novel economic development initiative that integrates the nanoscience and microtechnology programs at Oregon’s major research institutions. Established in 2003, ONAMI was created pursuant to the philosophy that the coordinated efforts of Oregon’s universities would be able to acquire more funding, deliver greater economic potential, and offer better educational and economic opportunities for Oregonians than if each university launched individual initiatives. ONAMI collects researchers into an institute that has the collaborative and scale-in-research elements of a science park, leverages research facilities across campuses, and avoids the fixed investment of dedicated facilities and real estate. Our assessment estimated the economic benefits accruing to Oregon that are attributable to ONAMI and its programs that would not have accrued had ONAMI not been created. The net benefit was $39 million. The annualized rate of return on the state government’s investment from cash inflows from non-Oregon sources was 56%. A benefit-to-cost ratio of 1.72 means that for every $1 the state government invested, Oregon received $1.72 in return.