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Northwestern Medicine’s $1 Billion Pledge

Wants to Make Chicago a Center of Biotech Research

By Payers & Providers Staff

Jan 15, 2013

Midwest Region

Northwestern Medicine has launched a $1 billion effort to beef up its biomedical facilities, part of what officials say will be an effort to put Chicago at the forefront of U.S. medical research.

Northwestern, which includes the Feinberg School of Medicine, the Northwestern Medical Faculty Foundation and Northwestern Memorial HealthCare, will convert the current site of the former Prentice Women's Hospital in the Streeterville section of Chicago, and will be connected to the already existing Lurie Research Center. The plans call for an initial construction of up to 500,000 square feet of additional research space, and eventually 1.2 million square feet in total. Another 250,000 square feet of existing space on other Northwestern Medicine sites will also be converted for the expansion.

"”In order to build a 21st-century biomedical research facility, expand our medical school's research capacity and ultimately improve patients' lives, it is imperative that we have a thriving scientific research base,” said Northwestern University President Morton Schapiro. “We are committed to ensuring that Northwestern University and the Feinberg School continue to be leaders in biomedical research and education.”

When the project is completed, it is expected to bring a net annual benefit of $390 million a year to Chicago, including 2,000 new jobs, and be able to expand Northwestern Medicine's grant-accepting ability by $150 million a year.

“By expanding the scale and type of research space available on our Chicago campus the University, the medical school and our affiliated physicians and hospitals will be able to retain and attract world-class scientists,” said Dean M. Harrison, CEO, Northwestern Memorial HealthCare“This investment in our research mission will advance Northwestern Medicine's and Chicago's leadership in biomedical research and clinical care.”

 

 

 

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