About the Fact of the Week
Each week, ITIF publishes a fact about innovation in our newsletter. Here you will find an archive of previously featured facts.
Featured Fact of the Week
- Accessibility (1)
- Broadband (7)
- Competitiveness (21)
- Cybersecurity (1)
- Developing Economies (3)
- E-Government (2)
- Economic Theory (3)
- Education & Training (9)
- Energy & Climate (12)
- Health IT (2)
- Intellectual Property (9)
- Internet (20)
- Life Sciences (6)
- Manufacturing (9)
- Privacy (1)
- Productivity (6)
- Science and R&D (23)
- State and Local (2)
- Taxes (3)
- Trade (30)
- Transportation (3)
- Wireless (4)
10 Most Popular Facts
1. China's engineering degrees were about 10 times the U.S. number and represented a much higher share of all bachelor's degrees (30%) than in the United States (5%).
China awarded 300,000 bachelor's degrees in the natural sciences and 700,000 in engineering-together representing 43% of its 2.3 million total in 2008. China's engineering degrees were about 10 times the U.S. number and represented a much higher share of all bachelor's degrees (30%) than in the United States (5%). The gap in education in STEM fields from U.S. to China is only growing...
A 2013 McKinsey Global Institute report estimated that open data could add over $3 trillion in total value annually to the education, transportation, consumer products, electricity, oil and gas, health care and consumer finance sectors worldwide. Open data can be used to drive innovation within and beyond the organization that created it because it allows other organizations to make use of...
3. If current R&D investment continues at the current level, the R&D investment deficit will grow to $2.6 trillion by 2021.
If federal R&D investment had been sustained at the 1960-1980 level, in terms of an average share of GDP, these investments would be approaching $230 billion annually today, rather than the current levels of roughly $150 billion. Our robust investment in R&D in the 1960s, 70s and 80s fueled our post-war prosperity and helped set the stage for the IT revolution, advances in biotech and...
Sweden, Denmark and Finland finished first, third and fourth respectively in the Innovation Union Scoreboard 2013, a ranking of innovation performance of EU member nations. Over the last decade the Nordic nations have made great strides in improving innovation capacity and economic competitiveness. They have accomplished these goals through well-organized national innovation systems that...
5. A $15 per ton CO2 carbon tax would raise roughly $90 billion in revenue annually and be able to fully fund America's clean energy innovation ecosystem.
A $15/ton CO2 tax levied economy-wide would raise $90 billion annually, which could fund not only the expanded incentives here (and an expanded R&D credit), but also from statutory rate reduction. ITIF estimates that if the tax revenues were used to pay for expanded corporate tax incentives of the kind described above U.S. manufacturers as a group would actually pay lower taxes.
6. China has increased its solar PV global export market share from 2% in 2000 to 54% by 2011, even though U.S. solar PV are 5% more cost competitive than Chinese products before subsidies.
From 2000 to 2011, China increased its global solar PV export market share from 2 percent to 54 percent. This remarkable export growth, in addition to significant deployment subsidies in the United States, has helped solar PV costs decrease 75 percent in the last 10 years. But what’s the character of that cost decline? According to a recent McKinsey study a...
7. U.S. life sciences-industry jobs pay an average wage of $84,992.00 - almost double the average U.S. wage.
The life sciences industry is one of America's strongest performers in terms of creating high-wage jobs. Life sciences-industry jobs pay an average wage of $84,992, which is almost double the average U.S. wage. In part because of these high wages, 1.2 million jobs in the life sciences industry support an additional 5.8 million jobs indirectly. Employment in the life sciences grew 5.7 percent from...
8. If the United States were able to close the gap between its educational achievement levels and those of better-performing nations such as Finland and Korea, U.S. GDP could be as much as $1.3 trillion to $2.3 trillion higher.
A series of McKinsey Global Institute reports find that a lack of innovation and productivity growth in four critical sectors--education, he