New Study Shows FRIB Has Significant Impact on Michigan’s Economy | MSUToday

A new economic impact study shows Michigan State University’s rare isotope beam facility is expected to have a significant impact on Michigan’s economy and job creation. From construction to operations, FRIB is expected to generate accrued salaries totaling $1.7 billion and add $4.4 billion to the state’s economy.

The study analyzes salary expenditures, material purchases and the acquisition of services in two phases: the construction phase (FY2009-FY2021) and a planned 20-year operational phase. The study’s payroll analysis shows that FRIB will create up to 1,500 jobs in Michigan during the peak of the construction phase and approximately 1,000 permanent jobs during operation.

“FRIB is the cornerstone of our drive to strengthen and diversify Michigan’s economy by investing in cutting-edge research and nurturing the next generation of scientific leaders,” said MSU President Lou Anna K. Simon. . “The nation’s #1 ranked nuclear physics graduate program is already here, educating about 10% of the nation’s nuclear science PhD graduates”

Progress on FRIB continues to move quickly and ahead of plan. The project will also reach a construction stage later this month when civil construction reaches beneficial occupancy, allowing installation of technical equipment. Effective occupancy is the stage before final completion, during which the facility can be used for its intended purpose.

In addition to funding FRIB operations, the Department of Energy Office of Science funded $635.5 million of the $730 million construction budget, while the State of Michigan invested $94.5 million. . About 83% of total construction spending will go directly to Michigan businesses and workers, driving an average of $149 million in in-state purchases annually.

The state’s investment in FRIB is expected to generate $205 million in tax revenue and $831 million in gross state product, the total market value of all goods and services produced in Michigan, through 2040.

FRIB will be the most powerful rare isotope beam facility in the world when it is completed in 2022. Providing more than 1,000 new rare isotopes never before produced on Earth, it will more than double the research possibilities available in physics nuclear. Many of these isotopes will likely have properties essential to discoveries in key areas such as national security and nuclear medicine.

The State of Michigan continues to work closely with state and regional economic development officials to maximize opportunities for future job creation related to the FRIB. MSU will continue to seek out new companies interested in using the results of its research, such as Niowave and Ionetix. These private venture capital firms have leveraged MSU’s accelerator technologies and talent to develop innovative commercial products for the medical and security industries.

As part of the University Research Corridor, the State of Michigan, together with its partners, the University of Michigan and Wayne State University, attracted $1.1 billion in federal research dollars to Michigan in 2016 The State of Michigan alone provided $398 million, excluding construction funding from the FRIB.

The study was conducted by MSU’s Center for Economic Analysis and is an update of an earlier economic impact study conducted in 2008. Read the full study here.