TTUHSC El Paso Contributed $227 Million to the El Paso Economy in 2015
Texas Tech University Health Sciences Center El Paso (TTUHSC El Paso) contributed a total of $227 million to the local economy in 2015, according to a report by the Hunt Institute for Global Competitiveness.
“Our commitment to the border region profoundly impacts the quality of life for residents in our region, and I am proud of the university’s contributions to the economy,” said President Richard Lange, M.D., M.B.A. “This is an exciting time to be a part of TTUHSC El Paso.”
In addition to the $227 million estimate, $28.9 million was provided in uncompensated care to address the health needs and concerns of El Paso. The Hunt Institute estimates that’s the equivalent of providing $734 of free medical care annually to each El Paso County family that falls below the poverty line.
“For more than 40 years, we have played a pivotal role in advancing education, research, and patient care in the Paso del Norte region and I look forward to continue enhancing and expanding services to our community,” Dr. Lange said.
TTUHSC El Paso’s total impact in 2015 can be broken down into the following categories:
Operations Spending Impact: ~$222.9 million
Operating costs account for any money spent on running TTUHSC El Paso’s three schools: the Paul L. Foster School of Medicine, the Gayle Greve Hunt School of Nursing and the Graduate School of Biomedical Sciences. It also includes administrative services and $162.7 million in labor income impact.
Capital Investments Impact: ~$4.7 million
Capital investments include any local investments by TTUHSC El Paso, such as construction projects, and purchases of medical equipment and other technologies. A portion of this amount is $885,000 in labor income impact made on local business owners.