University Research Corridor seen as hub for innovation, venture capital
Michigan's University Research Corridor (URC) should be in the same conversation as the innovative research clusters in Boston, Silicon Valley and North Carolina, college presidents recently told The Economic Development Club. The URC -- comprised of Michigan State University, the University of Michigan and Wayne State University - pumped $16.5 billion into Michigan's economy. That's a $3.7 billion increase since it was formed in 2007. MSU President Lou Anna Simon was joined in a panel discussion with U-M President Mark Schlissel and Wayne State University President M. Roy Wilson. Over the past decade, the presidents say URC research has led to advances in medicine and business and society overall. The universities were responsible for $2.15 billion in research and development spending in fiscal year 2015, including $1.2 billion specifically in R&D for Life Medical and Health Sciences. The URC's 10th annual economic impact report says every county in Michigan has benefited from economic activities tied to the corridor.