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Medical Schools Provide an Economic Boost to Local Communities
By Chris Hassan
Posted November 15, 2011 04:58 PM
Medical school research helps the economy.Students who enroll in degree programs that are offered by medical schools stand to enhance their education in areas such as medical science and epidemiology. However, in addition to improving the lives of students, medical school can also provide a boost to the local economy, according to a press release.
The Association of American Medical Colleges stated that in 2009, federal and state-funded research at member medical institutions and teaching hospitals provided a boost of $45 billion to economies in the 46 states where these schools are located. This translated to almost 300,000 full-time jobs.
In Indiana, the public research funds that the Indiana University School of Medicine received in 2009 added approximately $370 million to the state's economy. According to the institution's Research and Technology Corporation, discoveries made as a result of school research has led to the creation of 21 new businesses.
"This report emphasizes again how important we believe biomedical research is to the people of Indiana and beyond: It will bring us tomorrow’s medicine, it helps us educate tomorrow’s doctors, and it is a powerful boost to the Indiana economy," said David S. Wilkes, executive associate dean for research affairs at the university's School of Medicine.
