How many jobs, economic impact

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

Whereas Memphis could also be often called the logistics capital of the world, there may be one other sector that gives 1000’s of jobs and billions of GDP for the area: the medical machine manufacturing trade.

A brand new examine launched by the Better Memphis Medical Machine Council on Tuesday reveals that greater than 18,000 jobs within the Memphis space are instantly or not directly supported by trade and that the overall wages paid to those employees is about $1.5 billion yearly. The anticipated annual financial impression of the trade 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 machine producers — which incorporates quite a lot of jobs and pay scales — is greater than $103,000. The trade has added greater than 1,900 jobs domestically since 2015.

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