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TABLE 2-3 Sales and Employment in the Information Technology (IT) Industry, 2000

 

NAICS Code

Sales Revenues ($ billions)

Number of Jobs (1,000)

IT Manufacturing

 

Computer and peripheral equipment

3341

110.0

190

 

Communications equipment

3342

119.3

291

 

Software

5112

88.6

331

 

Semiconductors and other electronic components

3344

168.5

621

IT Services

 

Data processing services

5142

42.9

296

 

Telecommunications services

5133

354.2

1,165

SOURCE: National Research Council. Impact of Basic Research on Industrial Performance. Washington, DC: The National Academies Press, 2003.

described as “fuel for industry.”19 The economic contribution of science and technology can be understood by examining revenue and employment figures from technology- and service-based industries, but the largest economic influence is in the productivity gains that follow the adoption of new products and technologies.20

CREATING NEW INDUSTRIES

The power of research is demonstrated not only by single innovations but by the ability to create entire new industries—some of them the nation’s most powerful economic drivers.

Basic research on the molecular mechanisms of DNA has produced a new field, molecular biology, and recombinant-DNA technology, or gene splicing, which in turn has led to new health therapies and the enormous growth of the biotechnology industry. The potential of those developments for health and healthcare is only beginning to be realized.

Studies of the interaction of light with atoms led to the prediction of stimulated emission of coherent radiation. That, together with the quest for a device to produce high-frequency microwaves, led to the development of

19

Council of Economic Advisers. Economic Report of the President. Washington, DC: US Government Printing Office, 1995.

20

D. J. Wilson. “Is Embodied Technological Change the Result of Upstream R&D? Industry-Level Evidence.” Review of Economic Dynamics 5(2)(2002):342-362.



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