A new report, “The Contribution of the University of Nevada School of Medicine to the Nevada Economy,” details the economic impact of School of Medicine on the state’s economy.
The report, by the School of Medicine and researchers from the University Center of Economic Development, gives estimates of the employment and income impact of medical education and research undertaken by medical faculty and the School of Medicine’s practice plans.
“The analysis contained in this report reveals that the jobs, payroll and expenditures made by the School of Medicine generate substantial benefits to the state’s economy – contributions typically overlooked in public policy discussions of the role of medical education and training in Nevada,” said co-author John Packham.
The UCED’s Tom Harris added that, “as policymakers consider the medical education and health care priorities for Nevada, they should bear in mind the importance of the University of Nevada School of Medicine to the state’s economy.”
Some report highlights include:
In 2013, the University of Nevada School of Medicine (UNSOM) employed 1,873 Nevadans who earned a total of $109.2 million in payroll and benefits. In that same year, spending by UNSOM employees resulted in an estimated additional 946 jobs and $65.4 million in payroll and benefits in other businesses in Nevada.
Combined spending by UNSOM and its employees resulted in an impact of $315.6 million in economic activity in Nevada.
UNSOM spending in southern Nevada spending on payroll and benefits, as well as the School’s expenditures on goods and services from other businesses in southern Nevada, generated $143.3 million.
Similarly, in northern Nevada, UNSOM spending on payroll and benefits, as well as the School’s operational expenditures on goods and services from other businesses in northern Nevada, generated $157.6 in total economic activity in northern Nevada.