MUSC Hollings Cancer Center Drives Economic Growth in SC

View of the MUSC Hollings Cancer Center showcasing its modern facilities.

News Summary

The MUSC Hollings Cancer Center significantly impacts South Carolina’s economy, generating $860 million annually and creating over 4,000 jobs. As the state’s only National Cancer Institute-designated center, it plays a vital role in both cancer care and local employment. The center also contributes $17.5 million in state tax revenue yearly while planning expansion to meet an increasing demand for services. Its innovative research under Dr. Raymond DuBois positions it as a regional leader in oncology.

Charleston, SC – The MUSC Hollings Cancer Center plays a pivotal role in South Carolina’s economy, generating an impressive $860 million annually according to a recent study by Joey Von Nessen, a research economist at the University of South Carolina Darla Moore School of Business. This significant economic impact comes alongside the creation of over 4,000 jobs statewide, underscoring the center’s crucial contribution to both healthcare and employment in the region.

Economic Contributions and Job Creation

The Hollings Cancer Center is not only vital for cancer research and care but also stands out as the only National Cancer Institute-designated cancer center in South Carolina. This designation represents a commitment to cancer treatment and research at the highest levels. The center attracts a highly educated workforce, focusing on advancements in cancer care and innovative research initiatives.

In addition to its economic contributions, the Hollings Cancer Center generates approximately $17.5 million in state tax revenue each year. The average salary for employees at the center is around 63% higher than the state average, reflecting the specialized skillset needed in the fields of cancer treatment and research. The high-paying jobs offered by the center help to stimulate the local economy further and attract talent to the state.

Plans for Expansion

As South Carolina grapples with a significant population increase, the Hollings Cancer Center is poised to expand its services to meet the growing demand. MUSC has announced plans to construct a second cancer hospital within the current Rutledge Tower annex footprint. This new facility is expected to be completed within the next five years. The expansion aims to enhance the economic impact of the center by hiring more researchers, providers, and support staff, as well as increasing its capacity to care for patients.

Background on the Hollings Cancer Center

The Hollings Cancer Center is recognized for its cutting-edge research and care programs. Under the direction of Dr. Raymond DuBois, the center integrates clinical practice with research initiatives, striving to improve outcomes for cancer patients. Its commitment to understanding and treating a wide range of cancer types positions it as a leader in oncology across the region.

In summary, the economic analysis of MUSC’s Hollings Cancer Center reveals its vital role in South Carolina, not only as a top-tier healthcare facility but also as a significant job creator and economic engine. As the center prepares for expansion, it continues to enhance its contributions to improving health outcomes and providing high-quality cancer care to the state’s growing population.