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Ohio economy reaps billions from veterinary field

Study says $13 billion annually in direct and supporting services, to be exact

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Veterinary medicine contributes $13 billion annually in direct and supporting services to Ohio’s economy, according to a 2017 economic analysis by Regionomics LLC, which researched veterinary medicine’s impact in economic activity and employment contributions to the Buckeye State.

The study, a collaborative effort between the Ohio Veterinary Medical Association (OVMA) and The Ohio State University College of Veterinary Medicine (CVM), found that veterinary services in Ohio contribute $2.4 billion in direct economic output while sustaining more than 23,000 jobs. Support of animal-related industries, including agricultural production, reflects an additional $10.6 billion in annual economic activity.

“Veterinary medicine supports Ohio’s economy and communities in a variety of substantive ways, including agriculture, research, and human health,” said Rustin Moore, DVM, Ph.D., DACVS, Ohio State CVM dean. “As the only college of veterinary medicine in Ohio, we are proud of the role we play in direct economic activity, supporting the efforts of veterinary practitioners, and advancing the economic health of all animal care-related industries in Ohio.”

Veterinarians work in a variety of disciplines impacting economic growth and job creation beyond caring for companion animals. Areas not often considered as part of the veterinary field include food animal production, zoos, racetracks, health research, education, and animal nutrition. The economic study not only reaffirmed the importance of veterinary medicine’s role in supporting the economic activity of these industries, but it also explored issues of veterinary geographic distribution, veterinary student loan debt and the contributions of the human-animal bond in mitigating human healthcare costs.

“Veterinary medicine not only keeps Ohio’s pet and farm animals healthy, but it also plays an important role in Ohio’s economic health,” said Tod Beckett, DVM, OVMA president. “We are proud of the meaningful contributions we make and see greater opportunities to serve and contribute in the years ahead.”

For the full study, please click here.

 

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