Community Impact

The development and growth of the bioscience industry in Memphis will have a meaningful and long-term impact on the economic health of the region. New jobs, recruitment of talent, new housing and increased services to businesses and residents will allow for continued progress in the metropolitan area. In tandem with this growth is the influx of businesses that support bioscience companies, providing jobs and an economic stimulus to the community.

The UT-Baptist Research Park is the cornerstone to growth of the bioscience industry in Memphis and a major driving force in the economic expansion of the region. The research park is projected to generate nearly 5,000 bioscience jobs, 4,000 support non-bioscience positions and have a $2 billion annual economic impact. Capital investment into the research park is expected to reach $1.6 to $4.3 billion over the next 10 years.

The Research Park sits right in the heart of the Memphis Medical Center District, providing a unique urban setting with the ability to cohesively link all aspects of academic study, research, education, treatment, entrepreneurial ventures and a living community. No other city in the United Sates has such an opportunity for business, science and healthcare integration in the heart of its urban core. The Center is itself in the midst of a revitalization with the addition of new mixed-income housing, retail and the development of green spaces in the community.

This integrated bioscience community seeks to create a sense of place by addressing the common concerns of zoning, security, streets and sidewalks and other important infrastructures, economic development factors, transportation, housing, parks, even signage.

Community impact is not, however, limited to the Medical Center area. Efforts are underway to enhance the Brooks Road area near the airport, a critical front porch to the Memphis medical device companies and an area that will be essential for establishment of a successful biologistics initiative. Reaching further out into the community will be the rural impact of the Foundation’s work in bioagriculture.

Undeniably, the city of Memphis will experience a greater sense of pride and accomplishment as many of the projects involving the biosciences, community re-development and expansion near completion.