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Report: Marian med school to add $44M to economy each year

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Marian University will spend more than $32 million to build a facility for its new college of osteopathic medicine and expects the school to add $44 million a year to the Indianapolis-area economy.

The small Catholic college south of the Indianapolis Museum of Art will open the medical school in the fall of 2012. It will be the state's second such program, joining the Indiana University School of Medicine.

Marian intends to enroll 150 students in each of four classes, topping out at a student body of 600. The school will directly employ more than 350, including many scientific and medical researchers.

The economic impact estimate comes from a study commissioned by Marian and conducted by the Indianapolis-based Center for Urban Policy and the Environment. It was to be made public Tuesday.

Once the school is operating at full capacity, Marian will spend $18.5 million a year to run it, including $13.2 million on wages, according to the study. Students will spend another $8 million per year, the study estimated.

The study assumed the impact of those dollars would be multiplied as they ricochet in the local economy. The total economic impact will be more than $44 million, which will support about 450 total jobs.

“We wanted people to see that this is a game changer,” Marian President Dan Elsener said, explaining why Marian commissioned the study.

Elsener hopes the economic impact numbers help as Marian seeks to raise more money to fund the medical school and several interrelated projects on its campus.

Those projects include new facilities to support the doubling of math and science undergraduate students, which Elsener expects as a result of the medical school opening. Marian also is expanding graduate nurse training, and it will need more housing and parking to accommodate the additional students.

In all, those projects will cost $200 million. Marian has so far raised $130 million toward that goal.

The medical school by itself was initially projected to cost $75 million. Marian announced its plans to start the school early this year after it secured a $30 million gift from anonymous donor.

Elsener hopes the new medical school will help produce more family doctors for Indiana. More than half the counties in the state suffer from a shortage of primary care doctors.

Last month, Marian hired Dr. Paul Evans as dean of the new medical school. Evans, who started work Sept. 1, spent the previous six years launching a new osteopathic medical school in Atlanta.

“This is a unique opportunity,” Evans said. “It’s a new medical school that has absolutely no restrictions. All the knowledge I’ve gained over my career, here’s a good opportunity to make it happen.”

Marian has established partnerships with local hospitals—such as St. Vincent Health, Community Health Network and Westview Hospital—and is working on more to help its students finish their training.

Osteopathic medicine trains doctors in the same way as traditional medical schools, but they tend to emphasize the total health of patients a bit more. Westview Hospital is the only osteopathic hospital in Indianapolis.Marian University will invest more than $32 million to build a new building for its college of osteopathic medicine and expects the school to add $44 million a year to the Indianapolis-area economy.
 
The small Catholic college south of the Indianapolis Museum of Art will open the new school in the fall of 2012. It will be Indiana’s second medical school, after the Indiana University School of Medicine.
 
Marian intends to enroll 150 students in each of four classes, topping out at a student body of 600. The school will directly employ more than 350 workers, including many scientific and medical researchers.
 
The economic impact estimate comes from a study commissioned by Marian and conducted by the Indianapolis-based Center for Urban Policy and the Environment. It will be made public later Tuesday.
 
Once the school is operating at full capacity, Marian will spend $18.5 million a year to run it, including $13.2 million on wages, according to the study. Students will spend another $8 million per year, the study estimated.
 
The study assumed the impact of those dollars would be multiplied as they ricochet in the local economy. The total economic impact will be more than $44 million, which will support about 450 total jobs.
 
“We wanted people to see that this is a game changer,” said Marian President Dan Elsener when asked why Marian commissioned the impact study of its medical school. Contribute to innovations in care delivery and the development of new treatments that contribute to central Indiana’s life sciences business sector.
 
Elsener hopes the economic impact numbers help as Marian seeks to raise more money to fund the medical school and several interrelated projects on its campus.
 
Those projects include new facilities to support an expected doubling of math and science undergraduate students Elsener expects the opening the of the medical school to produce. Marian is also expanding graduate nurse training, and it will need more housing and parking to accommodate the additional students.
 
In all those projects will cost $200 million. Marian has so far raised $130 million toward that goal.
 
The medical school by itself was initially projected to cost $75 million. Marian first announced its plans to start the school late last year after it secured a $30 million gift from anonymous donor.
 
Elsener hopes the new medical school helps produce more family doctors for Indiana. More than half the counties in the state suffer from a shortage of primary care doctors.
 
Marian hired Dr. Paul Evans as dean of the new medical school. Evans, who started at Marian on Sept. 1, spent the previous six years launching a new osteopathic medical school in Atlanta.
 
“This is a unique opportunity,” Evans said. “It’s a new medical school that has absolutely no restrictions. All the knowledge I’ve gained over my career, here’s a good opportunity to make it happen.”
 
Marian has established partnerships with local hospitals—such as St. Vincent Health, Community Health Network and Westview Hospital—and is working on more to help its students finish their training.
 
Osteopathic medicine trains doctors in the same way as traditional medical schools, but they tend to emphasize the total health of patients a bit more. Westview Hospital is the only osteopathic hospital in Indianapolis.Marian University will invest more than $32 million to build a new building for its college of osteopathic medicine and expects the school to add $44 million a year to the Indianapolis-area economy.
 
The small Catholic college south of the Indianapolis Museum of Art will open the new school in the fall of 2012. It will be Indiana’s second medical school, after the Indiana University School of Medicine.
 
Marian intends to enroll 150 students in each of four classes, topping out at a student body of 600. The school will directly employ more than 350 workers, including many scientific and medical researchers.
 
The economic impact estimate comes from a study commissioned by Marian and conducted by the Indianapolis-based Center for Urban Policy and the Environment. It will be made public later Tuesday.
 
Once the school is operating at full capacity, Marian will spend $18.5 million a year to run it, including $13.2 million on wages, according to the study. Students will spend another $8 million per year, the study estimated.
 
The study assumed the impact of those dollars would be multiplied as they ricochet in the local economy. The total economic impact will be more than $44 million, which will support about 450 total jobs.
 
“We wanted people to see that this is a game changer,” said Marian President Dan Elsener when asked why Marian commissioned the impact study of its medical school. Contribute to innovations in care delivery and the development of new treatments that contribute to central Indiana’s life sciences business sector.
 
Elsener hopes the economic impact numbers help as Marian seeks to raise more money to fund the medical school and several interrelated projects on its campus.
 
Those projects include new facilities to support an expected doubling of math and science undergraduate students Elsener expects the opening the of the medical school to produce. Marian is also expanding graduate nurse training, and it will need more housing and parking to accommodate the additional students.
 
In all those projects will cost $200 million. Marian has so far raised $130 million toward that goal.
 
The medical school by itself was initially projected to cost $75 million. Marian first announced its plans to start the school late last year after it secured a $30 million gift from anonymous donor.
 
Elsener hopes the new medical school helps produce more family doctors for Indiana. More than half the counties in the state suffer from a shortage of primary care doctors.
 
Marian hired Dr. Paul Evans as dean of the new medical school. Evans, who started at Marian on Sept. 1, spent the previous six years launching a new osteopathic medical school in Atlanta.
 
“This is a unique opportunity,” Evans said. “It’s a new medical school that has absolutely no restrictions. All the knowledge I’ve gained over my career, here’s a good opportunity to make it happen.”
 
Marian has established partnerships with local hospitals—such as St. Vincent Health, Community Health Network and Westview Hospital—and is working on more to help its students finish their training.
 
Osteopathic medicine trains doctors in the same way as traditional medical schools, but they tend to emphasize the total health of patients a bit more. Westview Hospital is the only osteopathic hospital in Indianapolis.
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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