A new U.S. Chamber of Commerce study, From Innovation to Employment: IP’s Role in Job Growth, reveals the vital role of intellectual property (IP) in driving America’s economy and workforce. IP-intensive industries create high-paying jobs, boost local economies, and fuel innovation nationwide.
“Intellectual property is the backbone of our economy, driving innovation that benefits consumers, raises living standards, and creates millions of high-quality jobs,” said Tom Quaadman, Senior Vice President of Economic Policy at the U.S. Chamber of Commerce.
Key Findings:
- Economic Impact: In 2024, IP supported over $5 trillion in economic activity, creating jobs in every state. Washington ($63,000 IP per job), North Carolina ($25,600), and Utah ($19,600) led the way.
- R&D Investment: U.S. R&D spending hit $799 billion in 2024, with New Mexico (7.7% of GDP), North Carolina (3.1%), and Virginia (2.1%) showing strong investment.
- Higher Wages: IP jobs offer an average wage premium of $18,483, with Maryland ($26,000), Virginia ($24,456), and Texas ($24,322) leading.
- Global Exports: IP-related exports reached $140.36 billion, led by Texas ($32.5 billion), Louisiana ($7 billion), and Florida ($5 billion).
From Texas to Michigan to North Carolina, IP drives millions of jobs and billions in economic output. States like Delaware and New Hampshire excel in per-job contributions and R&D. Strong IP rights are essential to sustaining U.S. leadership in innovation and supporting communities nationwide.
Read the full study to explore how IP shapes America’s economic future.
