TGen, the Translational Genomics Research Institute, is an Arizona-based non-profit medical research institute dedicated to conducting groundbreaking research and creating life-changing solutions. TGen’s biomedical campus is an integral part of the statewide bioscience initiative to strengthen the quality of health care for Arizona residents and enhance the state’s economy.
TGen’s research and execution of precision medicine provides a substantial return on investment to the state of Arizona and incubates some of the world’s most innovative medical technology companies.
The TGen Foundation Board in 2006 commissioned Tripp Umbach to conduct a comprehensive economic and social impact study of TGen on the state of Arizona. In further partnership, Tripp Umbach provided a current update calculating direct and indirect impacts for business volume, employment, and government revenue impacts for TGen through fiscal year 2020.
Besides operational impacts, Tripp Umbach also analyzed economic impacts associated with the commercialization of research, including both TGen-led business spinoffs and the commercialization of research conducted through TGen partnerships.
TGen, highly productive in many facets, generated $657.7 million in economic impact in operations, commercialization of research, and spin-off activity, Tripp Umbach found.
From a fully integrated COVID response, developing the first FDA-approved diagnostic COVID test, nearly doubling the staffing at TGen North to deploy public health testing efforts, ramping up testing activities at Ashion Analytics, and completing two large commercial transactions, the economic impact of TGen’s operations and spin-off activity has increased significantly.
Highlights include quadrupling the economic impact from operations in 2017 ($103.3 million) to 2020 ($426.0 million), yielding return on investment for state support at $85.20 for every dollar (up from $20.66 in 2017), and TGen’s operations and the operations of TGen-related business spin-offs supporting 2,415 jobs for Arizona residents.
This is all while exceeding its non-profit mission of serving the public good by using its knowledge base to benefit the health and wellness of the community and by being transformative in public health, clinical, and research.
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