Einstein Telescope good for a fifth of growth in Flanders

At its peak, the Einstein Telescope will be able to account for 0.22% of productivity growth in Flanders. That is a fifth of the growth needed to compensate for the ageing population. The number of PhD students and patents would also increase in that case. The Einstein Telescope therefore offers opportunities the like of which have never been seen before and which are unlikely to occur again in the coming decades.

This is one of the conclusions of the Econopolis agency, which was commissioned by the Flemish government and POM Limburg to conduct research into the economic impact of this big science project for Flanders.

Extra discoveries

The study shows that the Einstein Telescope will have what are known as high ecosystem effects. This means that a whole range of high-tech knowledge institutions and spin-offs, start-ups and other companies will be established in the region. In addition, the project will have a unique appeal to the number of STEM students and profiles. This also applies to the chance discoveries and innovations that arise from research and the results of which cannot be predicted in advance.

Productivity

The mentioned productivity gains, expressed in euros, can amount to 1,509 billion euros for Flanders. In the basic scenario, this is still 637 million euros. This added value is realised by companies directly involved in the investment, companies in the supply chain and the value created by the consumption expenditure of employees directly or indirectly involved in the project.

Jobs

Another outcome of the study is that the Einstein Telescope could create between 5,021 and 12,142 job-years. The difference between the two figures lies in the extent to which there is an assertive focus on innovation and knowledge.

According to the study, Flanders would account for 2691 job-years of the construction phase of the Einstein Telescope, and even 6687 if this is accompanied by a further developed valorisation strategy.

The Einstein Telescope will be operational for at least 50 years. An operational phase of 30 years alone would therefore be good for Flanders for a minimum of 2,330 and a maximum of 5,455 job-years. For the entire Euroregion, this would be a multiple of that. Here too, there would be additional jobs from spin-offs, attracted companies or extra tourism.

CERN

Econopolis also researched the impact of CERN in the Swiss-French border region on researchers. After their careers at CERN, they mainly move on to the private sector.  No less than 45% of the employees move to industry, while 3 out of 10 researchers end up at universities and 15% go to other sectors. This has given the region around CERN an enormous boost. This pattern can be extended to the Einstein Telescope. It will first function as an important employer for highly educated professionals and then develop into a ‘talent pool’ from which local companies can draw. It is particularly interesting for companies to establish themselves around these regions because they can benefit from the expertise and experience of former researchers who want to settle in the area and apply their knowledge in industry.