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This impact memo from the University of Nebraska-Lincoln Bureau of Business Research examines the economic impact of businesses affiliated with the University of Nebraska Technology Park in Lancaster County. Affiliated businesses are defined as businesses currently located at the Technology Park or businesses that graduated from the Technology Development Center and are located in Lancaster County. The study, which was commissioned by the University of Nebraska Technology Park, considers the annual economic impact on key metrics such as business activity, labor income, and employment.
The mission of the University of Nebraska Technology Park is to enhance the transfer of technology from the University to the marketplace, foster interaction among technology-based businesses and with the University, provide an environment which fosters applied research and development of new technology-driven products or services and promotes technology-focused economic development in Nebraska. The Technology Park is a cooperative venture involving the University of Nebraska Foundation, the University of Nebraska and the private sector. Businesses located at or graduating from the Technology Park are critical to the Lancaster County in part because they are “export-oriented” businesses. In other words, these are businesses that primarily sell goods and services outside of Lancaster County and around the Midwest, the nation, and internationally. Therefore, the businesses bring money into the Lancaster County economy and contribute to the economic base of the community. This both creates new job opportunities for Lancaster County residents and provides additional customers for other, existing Lancaster County businesses. Such economic development successes are the result of the efforts of a broad group, starting with Technology Park businesses themselves, with an important role played by the University of Nebraska Technology Park.