Communities that invest in academic medicine reap considerable benefits—economic growth, expanded educational opportunities, quality health care, and improved community safety net.
Economic Growth
To grow the Central Texas economy, it’s critical to bring in new dollars from outside the region. It’s also important to expand educational opportunities.
“The 21st century biotechnology cluster race has many regional entries in the U.S. and around the world…The East Coast has Boston, Philadelphia, Washington, D.C., and Raleigh-Durham among the leading aspirants. Seattle and Austin appear to be two other top geographic contenders.”SOURCE: THE MILKEN INSTITUTE, JUNE 2004.
More Research Dollars
By supporting the growth of academic medicine and research, Central Texas will become even more competitive for federal research grants. Even without a medical school, UT Austin attracted nearly $50 million in National Institute of Health (NIH) funding last year. However, at over $105 million, UTMB attracted more than twice as much. The bottom line: academic medicine will attract new federal research dollars into our region.
Expanded Educational Opportunities
Austin is the nation’s largest city without a medical school or academic health center. The proposed academic health research facility would dramatically boost educational opportunities for health care professionals, public health workers, and researchers.
Job Creation
Building a major medical research facility would initially create hundreds of construction jobs. But it doesn’t stop there. Once complete, the facility would need hundreds of new workers.
A growing, world-class medical community would also indirectly create thousands of jobs through increased demand for products and services offered by Central Texas businesses. Hotels, restaurants, small business owners, hightech ventures, medical product companies and a host of other services would enjoy the spill-over effects derived from this flurry of new economic activity.
Academic Medicine Attracts Research Dollars
Institution FY 2004
University of Washington
Seattle, WA $473,432,138
Duke University
Durham, NC $343,825,304
UT SW Medical Center
Dallas, TX $172,246,995
Ohio State University
Columbus, OH $110,688,893
UTMB
Galveston, TX $105,156,283
Tulane University
New Orleans, LA $65,311,629
UT
Austin, TX $49,700,068
University of Tennessee Health Science Center
Memphis, TN $46,181,147
Seton is proud to have four hospitals – the only hospitals in Central Texas - that have earned the