New report shows MUSC Hollings Cancer Center Has $860 Million Economic Impact in South Carolina
May 19, 2025 12:14PM ● By David Dykes
(123rf.com Image)
MUSC Hollings Cancer Center in Charleston is a significant driver of the South Carolina economy, according to a new study authored by Joey Von Nessen, Ph.D., a research economist at the University of South Carolina Darla Moore School of Business, that provides a comprehensive assessment of Hollings’ economic impact on the state.
With a twin focus on patient care and cutting-edge research and development, Hollings’ large workforce and operations contribute to an extensive supply chain network that generates robust economic ripple effects across many industries in South Carolina and beyond, resulting in a demand for a broad portfolio of goods and services, officials said.
They said this economic activity generates well-paying jobs for South Carolinians and leads to additional income tax revenue for the state.
“As the only National Cancer Institute-designated cancer center in South Carolina, Hollings is uniquely positioned to attract a highly educated workforce that is at the forefront of cancer research and care – efforts that benefit residents of our state,” said Raymond N. DuBois, M.D., Ph.D., director of Hollings Cancer Center. “And with this study, we are able to see how that expertise also benefits the state monetarily through our impact on job creation, purchasing and even state tax contributions.”
With South Carolina experiencing both a growing and aging population base, the demand for health care – especially oncology-related services, will continue to rise, officials said.
"Our new cancer hospital, scheduled for completion within five years, will significantly expand this economic impact as we hire more researchers, providers and staff – and increase our capacity to care for more patients,” added DuBois.
Key findings of the report:
- Total economic impact of Hollings Cancer Center: The combination of direct, indirect and induced effects leads to a total economic impact of approximately $860 million, associated with 4,021 jobs across South Carolina.
Economic contributions to state tax revenue: Hollings Cancer Center significantly affects state tax revenue through the economic activity it supports. Every dollar in new economic activity generated within South Carolina also generates new tax revenue for the state. The annual economic activity currently supported by Hollings, in turn, is estimated to generate $17.5 million in state tax revenue each year.
- Contributions to the knowledge economy: Hollings Cancer Center attracts highly skilled professionals and fosters innovation in cancer research. As the state's only NCI-designated cancer center, Hollings drives economic growth, supports thousands of high-wage jobs and positions South Carolina as a leader in health care innovation.
- Job quantity: Hollings’ focus on cutting-edge academic research enhances cancer prevention and treatment, with a uniquely high employment multiplier of 2.8, creating 18 additional jobs for every 10 at its research facilities. This surpasses the state’s health care industry average, making Hollings’ expansion a key driver of long-term economic growth.
Job quality: The contribution of Hollings Cancer Center to high employment quality is evident in the wage levels among all jobs supported by Hollings’ research facilities throughout South Carolina. The average annual wage of these employees exceeds the overall average in South Carolina by approximately 63 percent.
MUSC Hollings Cancer Center, with more than 230 faculty cancer scientists from 20 academic departments, has an annual research funding portfolio of more than $50 million and sponsors more than 200 clinical trials across the state.
Hollings specialists include surgeons, medical oncologists, radiation oncologists, radiologists, pathologists, psychologists and other clinical providers equipped to provide the full range of cancer care from diagnosis to survivorship.
Hollings offers state-of-the-art cancer screenings, diagnostics, therapies and surgical techniques within its multidisciplinary clinics.
Dedicated to preventing and reducing the cancer burden statewide, the Hollings Office of Community Outreach and Engagement works with community organizations to bring cancer education and prevention information to affected populations throughout the state.