Economic Impacts of Research and Development in the Gulf of Mexico States

Sector Definition

The NAICS (2014) code 541711 or “Research and Development in Biotechnology” industry comprises of establishments primarily engaged in conducting biotechnology research and experimental development.

  1. Biotechnology research and experimental development involves the study of the use of microorganisms and cellular and biomolecular processes to develop or alter living or non-living materials.

  2. This research and development in biotechnology may result in development of new biotechnology processes or in prototypes of new or genetically-altered products that may be reproduced, utilized, or implemented by various industries.

Employment Impacts

The total employment impact is the sum of direct, indirect and induced impacts.

  1. Indirect impacts result from changes in economic activity of other industrial sectors which supply goods or services to the sector being evaluated.

  2. Induced impacts are the result of personal consumption expenditures by industry employees.

Direct Employment Impacts