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Y! MyWebWSU health care lineup a plus for economy
Wednesday, October 08, 2008
FAIRBORN — Academic health care affiliated with Wright State University's Boonshoft School of Medicine had a $3.1 billion economic impact in 2007, while generating $89.9 million in state government revenue and supporting more than 46,000 jobs, according to a report commissioned by the Ohio Council of Medical Deans.
The medical school contributed $850.5 million to the economy, generated $24 million in state revenue and supported 13,334 jobs. Those figures considered education, research, the Wright State Physicians practice of medical school faculty and resident training and research in seven affiliated hospitals.
"Beyond that is the impact on quality of life," Dr. Howard Part, dean of Wright State's med school, said Tuesday, Oct. 7.
"When businesses make decisions about coming to an area, they look at schools, arts and health care. Among our affiliated hospitals, we contribute a huge amount to that — not only in direct patient care, but we're also providing the next generation of doctors."
Every practicing physician is, "in essence, his or her own small business," Part said. Graduating doctors who stay in Ohio generate nearly $700 million, the report found.
The growth in Wright State's biomedical research also holds promise for generating jobs and start-up businesses, Part said.
Medical schools' economic impact
Ohio's seven medical schools and 105 teaching affiliates last year:
Contributed $37.2 billion to the economy.
Employed 425,000 people, about one in 12 Ohioans.
Received nearly two-thirds of Ohio's National Institutes of Health (NIH) funding:
$413 million of $628 million.
Returned about $10 in tax revenue for every $1 the state spent on medical colleges.
Source: Tripp Umbach
