LECOM Graduates Ready To Impact Community Health and Economy
Each new physician to add 20 jobs and $2 million in economic impact
Erie, PA – May 27 – At commencement, graduates of the Lake Erie College of Osteopathic Medicine
(LECOM) step off the stage with their diplomas ready to impact not only the health of their communities but
also the economy. When the physicians complete residency training and begin practice, each generates 20
additional jobs and more than two-million dollars in economic impact. That is just part of the LECOM
economic impact as reported by Tripp Umbach researchers to the College.
This year, 389 physicians and 201 pharmacists will receive their degrees at commencement
ceremonies in Erie and Bradenton, Fla. They’re part of an economic engine driven by the Millcreek Health
System, led by LECOM, Millcreek Community Hospital, Medical Associates of Erie, the Millcreek Geriatric
Education and Care Center and the LECOM Medical Fitness and Wellness Center.
According to Paul Umbach, founder and president of Tripp Umbach, LECOM’s total operational
impact on the U.S. Economy is nearly $230 million dollars and 700 jobs, not including the individual impact
of all graduates. Just the 2009 graduating class alone, pushes that impact over $1 billion, by adding another
$865 million dollars and employment support for 7,500 people residing in the U.S. Since its founding in 1992,
LECOM has graduated more than 2,000 physicians with a nearly $5 billion impact and support for almost
41,000 jobs.
Currently, 142 LECOM physician alumni practice in the Erie region with an economic impact of
$327 million dollars which supports another 2,840 local jobs. LECOM pharmacy graduates number 145 in
Erie County providing additional economic growth for this region.
LECOM graduates contribute greatly to the health of the medically underserved by practicing
primary care in regions of the country where the need for physicians continues to be a major problem. Tripp
Umbach estimates those 480 alumni throughout the nation saved the U.S. healthcare economy more than $1.7
billion in 2009. Adding the health system partners, the total economic impact nationally, is $329 million and 1,833
jobs.
The direct and indirect impact of LECOM and the health system stands at $225 million for
Pennsylvania and $66 million for Florida. In the Greater Erie Area, these impacts support nearly 1,000 jobs
and generate $136 million dollars. The jobs created by the health system pay on average $7,800 more than
the average job in this market, creating more economic impact per full time employee than the average job in
this area.
Additionally, the report shows more community benefits from the service provided through
charitable donations, volunteer service and free health care. These services would cost the community an
additional $2 million without the college, its graduates, physicians, staff and the hospital.
Pennsylvania and local governments in Erie receive nearly $5 million dollars in revenue as a result of
LECOM investments and operations in the community.
While the campus sizes are smaller in Bradenton and Greensburg, Pa., economic, employment and
government revenue impacts are significant. LECOM is a $60 million economic engine for Florida
supporting more than 160 jobs. Greensburg is benefiting by the statewide impact of the College since it
opened two years ago, and results are expected to grow as the campus develops. Additionally, LECOM will
open a School of Dental Medicine in Bradenton next year, which will increase total student enrollment,
faculty and staff employment and economic growth in southwest Florida and the nation.
Contact: Rob Macko, Lake Erie College of Osteopathic Medicine, Media Relations, (814) 860-5125, (814) 866-8408 Fax, rmacko@lecom.edu
The Lake Erie College of Osteopathic Medicine and LECOM School of Pharmacy offer innovative and affordable education in osteopathic medicine and pharmacy. From campuses in Erie, Pennsylvania, Greensburg, Pennsylvania and Bradenton, Florida, LECOM provides student-centered pathways to prepare the next generation of healthcare professionals. Prepare yourself for medicine as your life’s profession.
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