How many jobs, economic impact

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

Whereas Memphis could also be referred to 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 trade.

A brand new research launched by the Larger Memphis Medical Gadget Council on Tuesday exhibits that greater than 18,000 jobs within the Memphis space are straight or not directly supported by trade and that the whole wages paid to those employees is about $1.5 billion yearly. The anticipated annual financial affect of the trade on the area is greater than $4 billion, which is about 5.5% of Memphis’ GDP.

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