High-tech infrastructure and economic growth: The Materials Genome Initiative. (29th June 2021)

• Record Type: Journal Article
• Authors: Scott, Troy; Walsh, Amanda; Anderson, Benjamin; O'Connor, Alan; Tassey, Gregory
• Is Part Of: Science and public policy. Volume 48:Number 5(2021)
• Page Start: 649
• Page End: 661
• Publication Date: 2021-06-29
• Subjects: innovation policy -- technology infrastructure -- advanced materials -- Materials Genome Initiative -- quantitative economic impact; Science and state -- Periodicals; 338.926
• DOI: 10.1093/scipol/scab042
• Languages: English
• ISSNs: 0302-3427

Abstract

Abstract: This paper examines the economic impact potential of a major innovative effort by the US Government to systematically coordinate, implement, and manage a technical infrastructure to support innovation and subsequent market penetration of advanced material technologies. Called the Materials Genome Initiative (MGI), this high-tech infrastructure consists of a range of policy instruments that can be used to leverage the efficiency of both research and development and production. To determine and rank the potential economic impacts of various MGI infrastructure targets and thereby provide policy input for portfolio management, surveys were conducted to obtain industry estimates of materials infrastructure needs. From these surveys, the economic benefits of implementing the MGI were calculated. The analysis projects potential economic benefits from an improved materials innovation infrastructure of between $123 billion and $270 billion per year.