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Mayo Clinic responsible for $22 billion in economic impact, including $9.6 billion in Minnesota
Date:2/16/2010

ROCHESTER, Minn. -- Data from a study conducted by the Battelle Memorial Institute shows Mayo Clinic is responsible for $22 billion in economic impact nationwide, including $9.6 billion in Minnesota. The $9.6 billion impact in Minnesota is larger than that of the hotel and lodging industry ($1.8 billion), motor vehicle manufacturing ($3.9 billion) or professional sports ($717 million).

In terms of job creation, Mayo Clinic employs more than 57,000 people, including 37,000 in Minnesota, and creates an additional 94,000 full-time jobs through its business expenditures and the employment multiplier effect of these.

"The study confirms that Mayo Clinic is a national economic force, but what's particularly interesting is the size and scope of not only their clinical practice, but also research and educational activities," says Simon Tripp, senior director of the Battelle Technology Partnership Practice. "Mayo Clinic is particularly well positioned for continued leadership in the science and technology-driven 21st century economy; and the nation and Mayo Clinic home states and regions are likely to see significant further impacts.

"Mayo is a significant economic driver for our communities, states and nation," says John Noseworthy, M.D., Mayo Clinic president and CEO. "While economic impact is an important part of our story, what's more telling is the work that Mayo Clinic staff do every day to care for those in need. This study illustrates our strong commitment to patient care, education and research, which combine to ensure that we meet the needs of all our patients every day."

Major study findings include:

  • Mayo's total annual economic impact on the United States economy is $22 billion.
  • Every dollar spent by Mayo on operations, supplies and personnel generates an additional $2.05 for the overall national economy.
  • Mayo directly and indirectly supports 144,468 jobs.
  • Mayo generates nearly $1.9 billion
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Contact: Bryan Anderson
newsbureau@mayo.edu
507-284-5005
Mayo Clinic
Source:Eurekalert

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