North American Research Parks and Innovation Districts Booming, Says AURP Survey

In a recent survey conducted by the Association of University Research Parks (AURP) and Stiletto Consulting, over two-thirds of North American university-based research parks and innovation districts revealed they are either in the midst of or about to embark on significant building projects. This surge in construction activity underscores the vibrant expansion within the sector. However, the survey, which compiled insights from 411 institutional members across the U.S., Canada, and Mexico, also highlighted that nearly 88% of parks and districts cite funding for new infrastructure as their principal challenge for 2024.

The survey revealed key statistics about the state of these parks and districts: 62% of U.S.-based entities accessed U.S. EDA funding programs in 2023, over 60% have substantial land available for development, and the number of tenant organizations has increased significantly since 2012. This growth is accompanied by a wealth of resources for tenants, including incubator spaces and networking facilitation, emphasizing the role of these districts in nurturing innovation.

This collaborative effort between AURP and Stiletto not only sheds light on current trends but also sets the stage for future growth, with both organizations highlighting the importance of research parks and innovation districts in driving economic growth and community development in North America.