The APS Industrial Physics Advisory Board commissioned and issued a report entitled “The Impact of Industrial Physics on the U.S. Economy”, which outlines how important Industrial Physics is as a technology engine for the U.S. economy as a whole. These data were then used and distributed during the annual “Congressional Visit Day”, in which APS leaders and members interacted directly with their elected officials in Washington.

In the report, labor statistics, industrial output, and other U.S. government data were analyzed by experienced economists to highlight impacts including:

Economic Impact: U.S. physics-based companies directly contributed approximately $2.3 trillion to the U.S. economy (12.6% of GDP) and exported about $1.1 trillion of goods in 2016.

Job Creation: Approximately 11.5 million people were employed by U.S. physics-based companies in 2016, 6% of total employment.

Most Physicists Work in Industry: Approximately 70,000 physicists joined industry from 2003-2016 or about 58% of all physics graduates.

This report follows years of advocacy on the subject, and is an important tool to use when physicists interact with people who may not immediately appreciate what physicists do, not just in academic settings, but in the industrial and innovation economy. After all the effort it required, especially with the leadership of the Industrial Physics Advisory Board, we recommend that FIAP members download and familiarize themselves with the report. The report and a 1-page summary are available at aps.org/industry.