Research Park at FAU Releases 2018 Report to Community
The Research Park at Florida Atlantic University® today released its annual economic report to the community. The report highlights business contributions of Research Park companies to the South Florida economy, as well scientific discoveries and collaborations.
In 2018, Research Park at FAU companies generated more than $4 billion in annual revenues; secured $127.5 million investment capital; employed 1,631 South Florida residents, including 296 FAU interns and graduates; 17 new U.S. patents were awarded; and the average employee salary was $73,332. This year, for the first time, the R&D spend was calculated and totaled $42.8 million. The Research Park continues to grow with 307 projected new hires in 2019.
“2018 was an exciting year for the Research Park at FAU as new products were launched and contracts were won by companies with strong links to FAU,” said Andrew Duffell, president of the Research Park at FAU. “I am encouraged to see our companies are investing in healthy R&D budgets and am confident the returns on these investments will strengthen our region for many years to come.”
The Research Park is the only state university-affiliated research park in South Florida and is home to 29 high-tech, high-wage companies that work with FAU’s faculty and students on industry-leading projects. It is also home to FAU Tech Runway®, which serves as a hub to accelerate technology development and incubate startup companies.
For more information about the Research Park at FAU, visit research-park.org.