$6M projected increase in local economy
The University of Illinois College of Medicine at Peoria will start construction on their campus Summer 2016. This will allow 1st year medical students to start at the Peoria facility instead of spending their 1st year in Urbana-Champaign.
This decision was made in part from a study conducted by the Greater Peoria Economic Development Council that found this expansion could increase the local economy by $2.5 million a year after initial investments.
How you say? Well the expansion of a 3 year college to a 4 year college will allow the school to recruit and retain medical students and physicians. This could result in a ripple effect of attracting other physicians to the area.
Being in the real estate industry this news will also have a positive impact on real estate with new physicians purchasing & selling homes!
Read the full article here: https://pjstar.com/article/20151221/NEWS/151229950