The Medical College of Wisconsin (MCW) announced that it had a $5.82 billion direct operational economic impact on the United States’ economy in fiscal year (FY) 2023. The full report can be found here. Additionally, more than 38,500 jobs were directly and indirectly supported and sustained statewide by MCW collectively in FY 2023.
MCW is the largest private research institution in Wisconsin. It invested approximately $400 million in research, training, and related purposes during FY 2023, including conducting more than 3,800 research studies and clinical trials and leading the most cancer and neuroscience clinical trials in Wisconsin.
MCW’s research expenditures and indirect and induced economic activity resulting from those expenditures — totaled $826.3 million, according to the report.
Nearly 60% of all MCW graduates remain in Wisconsin to practice in health care and health science positions. The 12,000 MCW alumni living in Wisconsin contribute $19.5 billion in economic impact annually to the Wisconsin economy, according to the report. MCW also ranks in the top 5% nationally among medical schools in the number of resident physicians it trains and is the state’s leading provider of specialty-trained doctors.
MCW campuses in Green Bay and central Wisconsin also have significant local economic impact. More than $96 million in direct and indirect economic impact was generated in the Green Bay region in FY 2023, while a similar impact of more than $41 million was generated in Central Wisconsin. Statewide, MCW generated $246.1 million in state and local taxes with clinical partners.
