Senate Resolution 23

(As Adopted by Senate)

A RESOLUTION RECOGNIZING THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER AS ONE OF THE LARGEST ECONOMIC DEVELOPMENT GENERATORS IN THE STATE AND FOR ITS DIVERSITY SUPPLIER INITIATIVE.

WHEREAS, Mississippi's only academic medical center has become one of the largest drivers for economic development in the state. The economic impact of the Medical Center today is $2.1 Billion annually, generates, directly and indirectly, 17,164 jobs (500 new employees in 2010), creates $216 Million in total tax revenue annually, creates $132 Million by research spending annually, and $129 Million generated by student and visitor spending annually. For the State of Mississippi, the University of Mississippi Medical Center generates $7.6 Billion annually, generates 72,000 jobs, and creates $879 Million in total tax revenue annually. Based on a 2007 Economic Impact Study of the University of Mississippi Medical Center, the University of Mississippi Medical Center generated 10% of the total economy of Jackson and the metro region, and 2% of the state's economy; and

WHEREAS, today the record shows the University of Mississippi Medical Center's research growing from: $39.2 Million in 2008, $60.9 Million in 2009, and $75.7 Million in 2010. The people's academic medical center is developing a Cancer Research Center, an Obesity, Metabolism and Nutrition Center, a MIND Center, and a Cardiovascular Center. The University of Mississippi Medical Center also has the state's only Transplant Service; and

WHEREAS, the University of Mississippi Medical Center's vision is to train and place 4,500 new University of Mississippi Medical Center trained health care professionals throughout Mississippi by 2025. This includes 1,000 new physicians. Locating one physician in a community in Mississippi generates $2 Million in revenue annually and creates 20-25 jobs. This not only improves economic development in a community, but it also creates a better quality of life, which provides a powerful tool to attract other businesses and industry. Today the 3,300 University of Mississippi Medical Center-trained physicians practicing throughout Mississippi generate $3.3 Billion in revenue annually; and

WHEREAS, the University of Mississippi Medical Center's Supplier Diversity Program objective is to create mutually beneficial business relationships with small businesses that strengthen communities statewide; and

WHEREAS, in most communities, small businesses (minority-owned, women-owned, veteran-owned and handicapped-owned) comprise some 75% to 80% of the business foundation of any community. This is where the jobs are located that strengthen the local fabric of infrastructure; and

WHEREAS, the University of Mississippi Medical Center, as the largest employer in the metro region, identified the need to support the local small businesses in the city, region and state by taking the time to include them in the purchasing power and providing services for the Medical Center. In 2008, the Medical Center successfully formed a Diversity Supplier Initiative composed of a diverse group of small business leaders and owners from throughout the state, who provided the guidance for increasing the amount of revenue spent with small businesses; and

WHEREAS, the combined Medical Center spending for small businesses throughout the nation this year was with 1,085 companies with a total expenditure of $38 Million. Of that total, there were 256 Mississippi small businesses with a total spending of $15 Million; and

WHEREAS, the Medical Center is working with other large corporations and organizations in Mississippi and throughout the country to encourage them to include small businesses in their purchases. The University of Mississippi Medical Center is encouraging the large companies to take the time to nurture and build capacity in the small businesses. This capacity building enables small businesses to compete for larger projects. By supporting small businesses, the University of Mississippi Medical Center is creating a very positive foundation to build on our local, regional and state economy, to maintain current jobs, and to create new ones; and

WHEREAS, the University of Mississippi Medical Center is a leader in Mississippi by setting the example for other institutions, corporations and organizations by strengthening the local economies throughout the state by involving small businesses in the purchasing of goods and services; and

WHEREAS, the University of Mississippi Medical Center, Mississippi's only academic medical center, is moving toward becoming "A Great Academic Medical Center" through quality improvement in its mission of health care, academics and research, and its partnership with business and industry:

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, That we do hereby recognize and commend the University of Mississippi Medical Center as one of the largest economic development generators in the State of Mississippi and for its successful Diversity Supplier Initiative, extending our support for the success of this world-class academic medical center.

BE IT FURTHER RESOLVED, That this resolution be forwarded to the Chief Executive Officer of the University Medical Center, the Vice Chancellor for the University of Mississippi Medical Center, the Board of Trustees of State Institutions of Higher Learning, and be made available to the Capitol Press Corps.