GRAND RAPIDS, Mich. — Michigan State University College of Human Medicine officials announced on Monday the results of a study outlining the future economic impact of the university’s four buildings on Grand Rapids’ Medical Mile – netting Kent County about $339 million in annual economic impact.
The university’s Medical Mile buildings include the Secchia Center, the MSU Grand Rapids Research Center and two buildings under construction: the Doug Meijer Medical Innovation Building and the Perrigo Company plc North American Corporate Headquarters.
RELATED: Perrigo plans to build North American headquarters in downtown Grand Rapids
Once those last two buildings are completed, annual direct economic activity related to the four buildings anchored by the MSU Secchia Center is estimated to be $203 million, according to a news release Monday.
The buildings will support 2,017 jobs and an increase in yearly earnings of $142 million.
“When we began this journey, we knew these partnerships would be impactful in ways beyond expanding innovation in health care services and technologies,” MSU President Samuel L. Stanley Jr said. “The innovation center is already attracting entrepreneurs who look to capitalize on existing opportunities, create new companies and innovate at scale. We are incredibly proud to be part of the Grand Rapids community and contribute to a more vibrant economy.”
The MSU Grand Rapids Research Center also complements the research efforts of Van Andel Institute and Spectrum Health, according to the report, helping recruit top researchers to the region.
Michigan State University contracted with the Grand Valley State University Seidman College of Business to perform the economic analysis.
Read the full economic report here.