Closing the Gap: The Case for an Allopathic Medical School in Southern Nevada

Robert Lang, Ph.D.Professor and DirectorThe Lincy InstituteBrookings Mountain WestUniversity of Nevada, Las VegasGreenspun College of Urban AffairsLas Vegas, NV—November 5, 2013

Welcome to The Forum

What is The Lincy Institute? Thanks, Lincy Found./ Dream Fund

Why This Topic? Defined as an “Industry Constraint” in

the Brookings/SRI Nevada Economic Development Plan for GOED

LV is by FAR the Largest Metro Without an Allopathic Med School

Las Vegas Population

In 2012 (July 1 Census Estimate) : Las Vegas (Clark, NV) “Metropolitan

Statistical Area” had 2 Million People Ranked 31st in U.S.

Las Vegas NV, AZ (Clark, NV; Nye, NV; Mohave, AZ) “Combined Statistical Area” had 2.25 Million People Ranked 27th in U.S.

Metro Added 50,000 From 2010-2012

Source: Brookings Institution Metro Policy

Las Vegas Health Care Sector

Smallest in the U.S. in Top 100 Metros According to the Brookings Metro Monitor 2013 Just Seven Percent of Jobs in Region

Brookings/SRI State of Nevada Study 2011 Found that Las Vegas had a Health Services Location Coefficient of Just 0.642

New Allopathic Med Schools

Over a Dozen Built Since 2000 Often in Similar or Even Smaller

Markets Than Las Vegas Places Such as Orlando, FL. But also Roanoke, VA.

Capital Costs are Modest There are Lots of Finance Options

UCF College of Medicine inOrlando Cost $68 million

VT School of Medicine in Roanoke Cost $59 million

UNLV Greenspun HallCost $94 million

Capital Costs

68 Million in Orlando Translates into 75-80 Million in Las Vegas

Funding Sources (Non State): Federal New Market Tax Credits/CRA Nevada NMTCs Passed in 2013 SB 357 Local and County Bonds/Reuse Philanthropy

LV Knows Real Estate Deals

Bottom Line

If Roanoke Can Build a Medical School, So Can Las Vegas!

Today Tripp Umbach will Cover the Economic Impact of a Medical School in Las Vegas and the State

Brian McAnallen From The LV Metro Chamber Will Make a Few Remarks About the Chamber’s Interests