Chamber Analysis Shows OSU Medical Center Leads Area ...(period of the study was 7500. In tota...),Health

In total, the health care industry, which includes social services, recorded a net employment growth of 16,500 new jobs between February 2001 and December 2007, which represents a net growth of 20.7 percent in health care, specifically. By comparison, regional employment was only up 1.3 percent over that same period.

"OSU Medical Center's growth is the result of strategic and forward- looking development of clinical, educational and research programs," says Dr. Chip Souba, interim chief executive officer of OSU Medical Center. "Our growth is a direct reflection of the demand for the services and expertise of OSU physicians, staff and scientists who are advancing the world's knowledge of complicated health care issues on many fronts. The Medical Center is being very successful at recruiting innovators and that is exciting. We're going to see the payback for a long, long time."

The Chamber's report also cites OSU Medical Center's strong growth in patient volume and market penetration in counties outside Franklin as a key factor to the organization's economic impact across the region. Those who visit the OSU facilities for treatment or to visit patients spend in excess of $50 million annually, sustaining more than 800 direct and indirect local jobs.

"In today's economy, these job creation figures are good news for our area. In addition to the jobs being created, OSU Medical Center's ability to attract research grants and patients from outside the MSA is a benefit to the entire region," LaFayette says. "Research dollars are so important because they reflect money coming in from outside the region. Our industry models show each $100 in research expenditures creates a total impact of $222.05 on the local economy."

Research awards to OSU Medical Center increased to $184.4 million in fiscal year 2006 from $80.6 million in 2000. Total regional impact of research in fiscal year 2006 was $409.5 million.

"
'/>"/>