$1 Billion OSU Medical Center Expansion to Generate Thousands of New Jobs While Enhances the Center’s Educational, Research and Patient Care Capabilities

OSU Trustees have approved architecture and construction plans for ProjectONE, the $1 billion expansion to the OSU Medical Center.  The project is expected to not only enhance the services provided by the medical centers in the areas of education, research and patient care, but it will also expected to be one of the largest job generating initiatives in the state’s history.  OSU says the project will create as many as 10,000 full-time jobs (6,000 medical center jobs and an additional 4,000 jobs within the region to support the influx of new medical center personnel).  Additionally, the project is expected to generate more than 5,000 construction jobs.  In all OSU projects the expansion will result in $1.7 billion in annual economic impact by 2015. 

The project will include a tower that houses a new James Cancer Hospital and critical care building as well as additional educational, research and patient care facilities.  Ohio State plans to issue bonds to raise $925 million and seek private donations as well as public partnerships to fund the expansion.

For details, see the release from OSU.