Skip Navigation

The Medical College of Wisconsin Delivers Nearly $6 Billion Economic Impact

A new report reveals the Medical College of Wisconsin’s significant economic and social impact in Wisconsin and beyond.

According to a newly released report, the Medical College of Wisconsin (MCW) had a $5.82 billion direct operational economic impact on the United States’ economy in fiscal 2023, including directly and indirectly supporting and sustaining more than 38,500 jobs statewide.

“This report demonstrates that not only is the Medical College of Wisconsin an impactful academic and research institution, but also that the college is an economic force beyond our state and into the nation,” said John R. Raymond, Sr., MD, president and CEO of MCW. “We believe in being a transformational leader for healthier communities and a more vibrant economy in which everyone can flourish.”

MCW is among the top 100 U.S. research institutions, according to the National Science Foundation, and is the largest private research institution in Wisconsin. MCW invested approximately $400 million in research, training, and related purposes during fiscal 2023, including conducting more than 3,800 research studies and clinical trials and leading the most cancer and neuroscience clinical trials in Wisconsin.

The report states MCW’s research expenditures, with indirect and induced economic activity from those expenditures, totaled $826.3 million in fiscal 2023. MCW’s research activities generate about $8 in economic output for every $1 spent on research, when spending and spin-off development are included in the total impact.

Nearly sixty percent of MCW graduates remain in Wisconsin to practice in various healthcare and health science positions. MCW also ranks in the top five percent nationally among medical schools in the number of resident physicians it trains and is Wisconsin’s leading provider of specialty-trained doctors.

To illustrate, the report considered the 394 medical school graduates from fiscal 2023 and estimated they will have an annual economic impact of $630 million on Wisconsin’s economy. MCW graduates from fiscal 2023 who remain in Wisconsin will generate $25.2 billion over a lifetime of employment (40 years).

Read more.