Michigan State University College of Human Medicine officials today announced results of a study outlining the future economic impact of the four buildings that comprise the university’s Grand Rapids presence on the Medical Mile. The 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.
After construction on the Perrigo Company plc North American Headquarters building is completed in 2022, the annual direct economic activity related to the four buildings anchored by the MSU Secchia Center is estimated to be $203 million with an annual economic impact of $339 million, annual support of 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,” said MSU President Samuel L. Stanley Jr., M.D. “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 report also noted a catalytic effect that the MSU Grand Rapids Research Center has on the scientific ecosystem in the West Michigan region. It complements the research efforts of Van Andel Institute and Spectrum Health and becomes a magnet for recruiting top researchers who are attracted to innovation, collaboration and new funding opportunities. Research spinoffs also are anticipated to generate new businesses by taking advantage of the scientific innovation.
“We were invited to West Michigan to be a partner in an amazing community,” said Norman J. Beauchamp Jr., MD, MHS, MSU executive vice president for health sciences. “We see an important way to contribute is by creating a platform for all parts of the health ecosystem to come together to find new ways to solve the health challenges that face our communities, our nation and the world.”
“When we expanded our medical school and opened the Secchia Center in 2010, we set our sights on creating a medical education and research hub along the Medical Mile,” added Aron Sousa, interim dean, MSU College of Human Medicine. “As I reflect on this work, I am grateful to all those who have contributed to make this possible, including our philanthropic community, Health Innovation Partners and our Medical Mile partners Spectrum Health, Van Andel Institute, Mercy Health Saint Mary’s and Grand Valley State University. I am optimistic that the next phase will include discovery of new therapeutics and technologies to improve human health as we continue train the next generations of physicians, many of whom practice in the region following their residency.”
Michigan State University contracted with the Grand Valley State University Seidman College of Business to perform the detailed economic analysis.
In May 2019, MSU announced the university’s first public-private partnership (P3) with Health Innovation Partners, a real estate development joint venture between Rockford Construction (Grand Rapids), Walsh Construction/Walsh Investors, (Chicago), Murphy Development Group (Chicago) and Michigan State University. A 75-year ground lease was signed for the development of the Doug Meijer Medical Innovation building and 600-car parking structure at MSU Grand Rapids Innovation Park in downtown Grand Rapids. The fourth building, Perrigo Company plc’s North American Corporate Headquarters is planned to break ground April 14, 2021.
