Study: Ohio med schools generated $37.2 billion in 2007

A study by the Ohio Council of Medical Deans found that the state’s seven medical schools and teaching hospitals generated $37.2 billion last year (Source: “Ohio's medical schools, teaching hospitals generated $37.2 billion in 2007, study finds,” Cleveland Plain Dealer, Oct. 7, 2008).

The economic return was $16.5 billion more than was added to the Ohio economy in 2002, according to Tripp Umbach, a Pittsburgh-based research and consultancy firm that conducted to study.

The report found that for every dollar in state support for medical colleges, about $10 was returned to the state in taxes. It also concluded that Ohio’s medical schools were responsible for about 425,000 full-time jobs, or about 1 in every 12 workers in the state.