Economic Study Predicts New Medical School Will Bring Millions to Valley Economy
YAKIMA, Wa - An independent economic study says the new osteopathic medical school in Terrace Heights will be just what the doctor ordered for Yakima County's economy. The findings from the study even surprised the school's president and founder, Dr. Greg Mick.
Pacific Northwest University hasn't even been built yet, but a study by ED Hovee and Company from Vancouver, Washington is predicting it will bring in millions a year to yakima county's economy.
"I have to admit that even i was pleasantly blown away by this economic study," says Dr. Mick.
The study predicts the school will bring in a whopping $91 million during the build out phase, when the campus and surrounding buildings go up. And once the school is up and running with all four classes, the study predicts another $16 to $17 million a year.
"They take into account such things as retail purchases, housing, tax base," says Dr. Mick, "All those sorts of things, not only students, but they're spouses."
Dr. Mick says the study will give them added momentum, and it gives the county's economy, which is so closely tide agriculture, a new revenue stream.
"You know it's education, professional education and so it gives us a little bit of diversification of our economic base here which I think is good," says Dr. Mick.
The university plans to open in time for the fall semester in 2008. They hope to break ground sometime next summer..