A new report shows that the funding of research infrastructure facilities such as AuScope, AURIN and TERN is money well spent.
A new report from Lateral Economics estimates that Australia’s national environmental research infrastructure delivers more than $1.5 billion per year in scientific, economic and societal benefits.
Commissioned by 15 integrated Earth research infrastructure facilities, the study presents an assessment of the collective value of Australia’s major environmental research infrastructure facilities.
These facilities — supported primarily through the NCRIS program — enable cutting-edge research, underpin government policy, and support industry.
Among them are several that a heavily involved in geospatial studies and applications:
- AuScope — Earth and geospatial monitoring;
- Australian Urban Research Infrastructure Network (AURIN) — Sustainable cities and resilient communities; and
- Terrestrial Ecosystem Research Network (TERN) — Earth observation.
The report found an average benefit-cost ratio of 6.8 for NCRIS environmental research infrastructures, meaning that every $1.00 invested generates $6.80 in benefits.
These facilities may effectively pay for themselves — with the economic activity generated returning more than one dollar in tax revenue for every dollar of public funding invested, while also delivering broader community benefits.
“These facilities collaborate across science, industry and government to ensure national investments deliver maximum scientific, economic and societal value,” said the Director of TERN, Dr Beryl Morris.
The report used an OECD methodology, with each case demonstrating substantial economic and societal value, with benefit–cost ratios ranging from approximately 3.8 to 7.0.
