In 2017, MIPS commissioned an economic impact study of the MIPS program: “An Analysis of the
Impacts of MIPS Program Spending and the Commercialization of MIPS-Funded Projects on the State of Maryland,” prepared by Dr. Richard Clinch, Director of Economic Research at the Jacob France Institute of the University of Baltimore.
Dr. Clinch and his team analyzed the effects of the MIPS program on Maryland’s economy and the return on the investment in MIPS to the state treasury. Highlights of the 17-page report include:
Research conducted by the MIPS program has found that MIPS-supported technologies have generated more than $34.9 billion in cumulative sales over the past 30 years.
Technologies developed and commercialized in collaboration with the MIPS program over its 30-year history generated over $4.7 billion in product sales and supported 7,150 ongoing jobs in Maryland in calendar 2017 alone. When the multiplier-based economic impacts associated with this activity are included, the economic impacts associated with the production and sale of these commercialized technologies total almost $7.5 billion in annual economic activity in Maryland, supporting 22,915 jobs earning $2.2 billion in labor income.
The economic impacts associated with MIPS supported technology generated an estimated $166.1 million in state tax revenues in the year 2017 alone. These estimated one-year 2017 state tax revenues significantly exceed the $60.2 million lifetime cost  of the MIPS program. An estimated $125 million in local government revenues was also generated by MIPS-supported technologies in 2017.
MIPS lifetime spending of $46.2 million assisted in catalyzing the development and commercialization of technologies that have attracted $1.3 billion in additional grant, debt, equity, and venture capital funding into Maryland.
Several MIPS-supported companies have been acquired and the acquisition cost of these companies has totaled over $18.7 billion dollars.
Overall, the Jacob France Institute’s report shows that the MIPS program continues to make a significant contribution to the Maryland economy.
 Lifetime costs of $60.2 million differ from the $46.2 million in program spending – because they are expressed in current 2017 dollars.