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© 2003, Rotary Club of Charleston P.O.
Box 21029 Club
secretary:
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MUSC
is vital to local economy, Greenberg says APRIL 22 - MUSC President Ray Greenberg said preliminary results from an economic impact study showed the university has a $1.6 billion effect on the local economy. The unofficial study, still being refined by economist Frank Hefner, shows MUSC has a direct impact of $1.1 billion, Greenberg said. Both figures don't include planned construction projects, such as a children's research facility, doubling the space at the Hollings Cancer Center and a new replacement hospital. Those projects would pump additional millions into the economy. "Whether you are a salesman, a banker or a lawyer, chances are that you're tied economically to the Medical University," Greenberg said. The university also supports 9,000 jobs-more than twice as much as any other employer-and is responsible for about 20,000 spin-off jobs. Greenberg added that while state dollars to support the institution have dropped from 19 percent of MUSC's budget in 1995 to 7 percent today, the difference has been made up by the doubling of research dollars brought in by the university. "Spending money in the public sector isn't really taking money away from the private sector," he noted, adding that the state's $80 million a year "investment" in MUSC returned a 20-fold dividend into the local economy. Greenberg also pushed higher education restructuring efforts. He said a bill making its way through the legislative process would allow the state's three research universities - MUSC, USC and Clemson - to work more collaboratively. Instead of each fighting to get a piece of the pie, a new higher education collaboration would allow them to work together to share the pie, increase efficiency and reduce duplication. During
question time, Greenberg said a downtown location for a new hospital
is preferable to the institution. Building a hospital off the peninsula
would cost twice as much and take 15-20 years to transfer all of
MUSC's operations. -- Andy Brack |
The Rotary Club of Charleston meets 12:30 p.m. every Tuesday in Holliday Hall adjacent to The Citadel's football stadium on Hagood Street. All Rotarians are invited to visit with us.
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