COLUMBIA, Mo. (KMIZ)
A recent report from a University of Missouri research center shows the NextGen Precision Health Institute could bring in billions of dollars.
The MU Economic and Policy Analysis Research Center said it could generate up to $5.6 billion within the next 25 years. It could also generate $227 million for the state's general fund.
The study's co-author said NextGen Precision Health could answer health-related questions for people around the world.
“We’re using modern economics to quantify how NextGen will affect the Missouri economy, focusing on how it will add scholars located in a state-of-the-art facility with advanced tools to begin to answer health questions that are important to Missourians and the whole world,” director of MU's Economic and Policy Analysis Research Center Joseph Haslag said.
The UM System is expected to invest $400 million into the health initiative. The university is spending about $220 million on the NextGen building on MU's campus, with millions more being spent on staff, machines and research development. It's expected to open in 2021.
In 2019, the UM System entered a $179 million partnership with the Alliance for Precision Health to provide researchers with access to new technology. UM System officials say it will also provide people in rural areas with the best healthcare in the state.