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

in federal tax revenue and more than $1 billion in state and local tax revenue.
  • Mayo invested $391 million of its own funds into research and education activities in 2008.

    Mayo Clinic is an international leader in clinical care, medical research and medical/health education. From its beginnings as a small town medical practice, Mayo has become perhaps the most recognized brand in health care. Each year, Mayo Clinic is a destination for more than half a million patients from all 50 states and around the world. Additional diversified initiatives include clinical laboratory reference services, health publishing enterprises and other operations.

    Study Methodology

    Battelle is the world's largest independent nonprofit research and development organization performing more than $5 billion in research and development annually. Battelle's Technology Partnership Practice is a leading provider of advanced economic and social impact assessment and economic development services. Battelle assessed both the "backward linkage" (expenditure-based direct, indirect and induced economic impacts) and "forward linkage" or functional impacts of Mayo Clinic and Mayo Health System operations. In each examination, specific attention was paid to fully assessing the impacts of Mayo Clinic's unique operational structure that includes three distinct but interrelated functions: health care services, research and education.

    The impact of Mayo expenditures (backward linkage impacts) were quantified using regionally-specific IMPLAN input-output models. IMPLAN is one of the most widely used and respected models in the nation. Operational data (full-time equivalent employment, wage and benefit figures, and revenue and expense figures) were obtained from the Mayo Clinic for five operational groups. Battelle then developed regional IMPLAN models to measure direct, indirect and induced impacts in terms of employment, personal income, output and tax r
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  • Contact: Bryan Anderson
    newsbureau@mayo.edu
    507-284-5005
    Mayo Clinic
    Source:Eurekalert

    Page: 1 2 3

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