WASHINGTON (Sept. 5, 2014) – On September 8 at 12pm, Hudson Institute’s Center for the Economics of the Internet will host a seminar launching a new report on the economic growth created through the information, communications and technology (ICT) sector.
Former FCC Commissioner and Hudson Institute Senior Fellow Harold Furchtgott-Roth, along with Research Associate Jeffrey Li, produced the report titled “The Contribution of the Information, Communications, and Technology Sector to the Growth of the U.S. Economy: 1997-2007.” Examining data from the Department of Commerce’s Bureau of Economic Analysis over a 10 year period, the report addresses the federal government’s dearth of standardized measures quantifying the economic contributions of the ICT sector.
Findings of the report include:
- The ICT sector contributed 19% of the United States’ measurable economic gross output growth during the years 1997-2002, or more than 582 billion 2013 dollars.
- For the years 2002-2007, the ICT sector contributions slowed to 9.3% of gross output growth, or more than 340 billion 2013 dollars.
- The ICT sector can be directly attributed for more than 10% growth in these sectors: administrative and waste management services, construction, education services, information, management of companies and enterprises, manufacturing, transportation and warehousing.
The new report will be launched with a panel discussion on Monday, September 8, 2014 from 12:00 pm to 1:30 pm at Hudson Institute in Washington, D.C. Participants include Harold Furchtgott-Roth and Jeffrey Li, who will discuss the implications of their research and whether policymakers should reevaluate current laws effecting Internet and broadband investment. Members of the press and public are invited to attend or watch the panel streamed live at http://www.hudson.org.