Economic Impact Study
An independent study by Tripp Umbach found the following Economic Impact Finding for OCOM:
The direct and indirect economic impact of the campus during the two-year construction and start-up period (2021-23) is expected to total $62.4 million, provide 338 construction and other jobs, and add $2.6 million in taxes to communities in the central Florida region.
In 2028 when the proposed school is fully operational it will have an economic impact (direct and indirect economic benefits) of $46.4 million, more than 345 jobs, and $3.0 million in taxes to communities in the region.
In addition to operational impact outlined above, by 2030 the economic impact of the proposed campus will grow to $80.4 million as central Florida communities will begin realizing healthcare benefits and additional economic impact as graduates of the campus locate in the region and state. Tripp Umbach estimates that by 2030 when the first class of medical students complete their residencies, these new primary care physicians will also yield real savings, as emergency room utilization declines, for example. These savings are expected to total $10.8 million annually by 2030.
By 2030 commercial spin-off activity from research completed at the proposed campus will equal $100.0 million annually, sustaining approximately 800 additional jobs in central Florida.
By 2045 the total economic impact of the proposed college to the Orlando region will equal more than $1.7 billion, support over 9,000 jobs and contribute more than $86 million to state and local governments.