The medical device industry has a $2.6 billion impact on the Memphis economy, according to a report from The Daily News.
Indiana, Michigan and Minnesota are known as hubs for the medical device industry, but a report from the Greater Memphis Medical Device Council shows the industry's reach is much further. Here are five key notes:
1. The medical device industry creates 17,000 direct and indirect jobs in the Memphis area.
2. In Shelby County, the medical device industry has 16,823 direct and indirect jobs, which drive $1.2 billion in wages and $46 million in taxes.
3. The average wage for medical device manufacturing jobs in Shelby County is $88,660. The wage in Shelby County is 66 percent higher than the national average wage.
4. The medical device industry employment in Memphis has grown 50 percent since 1999. The growth is more than four times national average.
5. Shelby County is the second biggest county in the country for orthopedic device manufacturing.