The findings of a recent study determined The Medical University of South Carolina (MUSC) contributes a $3.8 billion economic boost to the Charleston metropolitan area economy and supports almost 28,000 jobs.
Further, these jobs contribute more than $1.8 billion in income for the Charleston area. MUSC is a large attraction for biomedical and extramural research dollars for every institution of higher learning in South Carolina with more than $250 million received annually in research funding. The economic impact from MUSC is almost 12 percent of the entire economy in the Charleston Metro, which translates to 1 in every 12 jobs in the area being directly or indirectly attributable to MUSC.
The study covered fiscal year 2015 and focused on three areas of MUSC — the Medical Center, MUSC Physicians and the Medical University. The MUSC Medical Center houses a nationally recognized Children’s Hospital, a National Cancer Institute-designated center (Hollings Cancer Center) and a Level I Trauma Center.
There are over 750 primary and specialty health care providers throughout the state who are associated with MUSC. Finally, the Medical University enrolls 3,000 students per year and provides residency training for 500 graduate students.
The Charleston Metro Chamber of Commerce’s Center for Business Research was responsible for the study.
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