New U.S. Chamber Report Reveals IP Boosts U.S. Economy, Drives Job Growth

Washington, D.C. - Today, the U.S. Chamber of Commerce unveiled a new study highlighting the critical role of intellectual property (IP) in the American economy and its benefits for the American workforce.

The study, From Innovation to Employment: IP's Role in Job Growth, examines the nationwide impact of IP-intensive industries on the workforce-revealing their capacity to generate well-paying jobs, support local businesses, boost economic output, drive R&D investments, and stimulate supply chains.

"Intellectual property is the backbone of our economy, driving innovation that benefits consumers, raises the standard of living for all Americans and creates millions of high-quality jobs across the nation," said Tom Quaadman, Senior Vice President of Economic Policy at the U.S. Chamber of Commerce. "This study underscores the importance of protecting and promoting strong IP rights to ensure America's continued economic growth and global competitiveness. By fostering strong IP rights, we can maintain our leadership in global innovation, support local businesses, and enhance the overall economic well-being of American workers and communities."

The study finds that IP-intensive industries are major contributors to high-quality jobs and economic activity nationwide. States like Texas, Michigan, and North Carolina are among the nation's leaders in total IP contributions-supporting millions of jobs and adding billions to the economy. Delaware and New Hampshire show strong per-job economic contributions and significant R&D investments.

Key Findings:

Total IP Contributions

• In 2024, over $5 trillion of existing IP supported jobs in all industries, every state, and for businesses of all sizes.

• Top-performing states include Washington ($63,000 of IP per job), North Carolina ($25,600), and Utah ($19,600).

R&D Spending

• In 2024, total U.S. R&D spending reached $799 billion.

• States like New Mexico (7.7% of GDP), North Carolina (3.1% of GDP), and Virginia (2.1% of GDP) had high R&D spending relative to their economies.

IP-Related Wages

• IP-intensive jobs offer significantly higher wages, with an average wage premium of $18,483 above non-IP jobs.

• Maryland ($26,000), Virginia ($24,456), and Texas ($24,322) had strong wage premiums for IP jobs.

IP Licensed for Export

• Total IP-related exports reached $140.36 billion in 2024.

• Texas led with $32.5 billion in IP-related exports, followed by Louisiana ($7 billion) and Florida ($5 billion).