How many jobs, economic impact

Smith & Nephew is part of the Memphis Medical Device segment.

Whereas Memphis could also be generally known as the logistics capital of the world, there’s one other sector that gives hundreds of jobs and billions of GDP for the area: the medical system manufacturing business.

A brand new examine launched by the Better Memphis Medical System Council on Tuesday reveals that greater than 18,000 jobs within the Memphis space are immediately or not directly supported by business and that the entire wages paid to those staff is about $1.5 billion yearly. The anticipated annual financial affect of the business on the area is greater than $4 billion, which is about 5.5% of Memphis’ GDP.

The examine by Youthful Associates, primarily based in Jackson, Tennessee, confirmed that the median annual wage paid to direct staff of system producers — which incorporates a wide range of jobs and pay scales — is greater than $103,000. The business has added greater than 1,900 jobs regionally since 2015.