Economic Impact of the Neuroscience Institute
The medical school and its affiliated hospitals already contribute significantly to the state’s economy and employment through medical student and resident training, research and the faculty practice plan (Wright State Physicians). According to a study commissioned by the Ohio Council of Medical Deans, the economic impact of the Boonshoft School of Medicine was $850.5 million in 2007. The impact of the entire “academic health care industry” associated with the medical school and its affiliated hospitals in the Dayton region is substantially greater — $3.1 billion, representing support for more than 46,000 jobs.
The creation of the institute will expand this economic impact by adding 300 new jobs to the Dayton region. Each new physician will establish a clinical practice with numerous administrative and clinical employees, while each clinician-scientist will create research support positions for technicians. The project will also support an increase in the number of graduate assistants and trainees, and will enhance the partners' ability to retain outstanding researchers and their teams.
Over time, the institute will also provide a distinct advantage when pursuing federal and private grants to fund neurological research, potentially resulting in millions of dollars flowing into the region.