R & D Can Drive Significant Return on Investment in the Atlantic RegionCIMTAN is just one of over a dozen research groups in NB driving economic growth admin January 8, 2015
CIMTAN (The Canadian Integrated Multi-Trophic Aquaculture Network) just released the latest version of CIMTAN Snippets, their regular newsletter that details their latest research activities in the lab, on the water, and across borders. It’s become increasingly clear that CIMTAN is a powerhouse of world-class innovation, collaborating and educating all over the globe and drawing significant investment and attention to the Atlantic Region.
CIMTAN is a prime example of how universities are a driver of regional economic development. Scientific Director Thierry Chopin calculated that over 25 years he has been instrumental in bringing a total of CAD $26,191,096.00 in research grant funding to the region leveraging more than $2 million in salary contributions from UNB, representing a twelve fold return on investment.
These numbers mean student training, jobs, tax revenue, and money going to New Brunswick businesses for equipment, transportation, and other research related expenses.
It`s often forgotten just how integral research and development is to our province`s prosperity. There are over a dozen research institutions in New Brunswick and another 8 academic institutions that continue to drive innovation and economic growth, and attract businesses to set up shop in our province.