Study: Mayo Clinic has a $28 billion impact on the U.S. economy

Mayo Clinic contributes $28 billion annually to the U.S. economy and supports 167,000 jobs — directly and indirectly — according to a first-of-its-kind report released Thursday by the health system.

Among other key highlights from the study:

• Mayo operations help create more than 92,000 jobs in Minnesota (13,000 in Arizona, 12,000 in Florida). 
• Its Rochester campus supported about 100 community nonprofits over the past year.
• Mayo Clinic Ventures has invested more than $100 million in venture deals with ties to Mayo innovations.
• Thirteen different companies have been started using Mayo's intellectual property.
• More than 135,000 students were educated through its College of Medicine's five schools.

The societal impact report was commissioned by Mayo and conducted by the consulting firm, TEConomy Partners, LLC.

The Rochester-based nonprofit finished first in U.S. News and Report's 2016-17 list of the best hospitals in the country. This year's rankings are expected to be unveiled early next week.

Cover photo by Michael Hicks / Creative Commons