Tampa General Hospital, a pillar in the health care community and known as the area’s only Level 1 trauma center, is in the midst of creating a medical district – one that will bring monumental investments and establish a true world-class clinical destination.
The goal of the Tampa Medical and Research District (TMD) is to create a hub in Tampa that would cultivate groundbreaking research and attract renowned clinicians and tech companies. At full buildout, at least 26 institutions will be considered as part of the TMD, including multiple universities, pharmacy schools, urgent care centers, and the existing USF Health Morsani College of Medicine in Water Street Tampa, a $3.5 billion, 50-acre real estate development.
”We fill important roles and we are blessed to be surrounded by a good health system in Tampa Bay. At TGH, this center would put us in a great position to operate on a larger scale and compete with other cities that have well-established medical districts,” TGH President and CEO John Couris told the St. Pete Catalyst, sharing the first look of a preliminary economic study on the medical district.
TGH’s map of what the medical district encompasses. TGH image.
A look at some of the physical projects that are underway in the new medical district:
The health care organization retained The Washington Economics Group (WEG) to do the preliminary economic impact study on the medical district, analyzing the wave of impact from infrastructure to job creation and spending.
It showed that once completed, the total economic impact of Tampa Medical District is over $6.4 billion each year in the Tampa metro (MSA). Of this total, $3.5 billion (or 55%) is due to direct economic effects, with $2.9 billion attributable to indirect and induced economic effects.
In evaluating how it would impact the state, the total statewide impact would be nearly $8.3 billion of impact each year, which is more than $1.8 billion compared to the impact it would solely have in the Tampa metro.
The TMD will support over 41,500 local jobs and 57,900 jobs throughout the state.
Other findings from the study:
The study continued to highlight the great importance of TGH’s presence at the USF Health Morsani College of Medicine in Water Street Tampa, which created an even more proximal and collaborative relationship between the medical staff at TGH and USF and further clustered education with another notable area institution, the University of Tampa.
In addition to the new structures in the district, TGH is investing $500 million in new infrastructure and increased capacity at its main campus.
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