A $1 billion expansion project for the Ohio State Medical Center campus has received final approval from the OSU board of trustees.
Ohio State officials OK $1 billion expansion project
The university will issue $925 million in bonds and will solicit donations and “public partnership investments” for the rest, according to a news release. Called “ProjectONE,” the plan calls for a tower that will contain a research institute and a cancer hospital that will have capacity for at least 276 beds, which is 116 more than current capacity.
There will also be a new 144-bed critical-care building, and research, education and patient-care spaces. The university estimates that the expansion will allow 310,000 more patients to be treated annually. It is also expected to create some 10,000 new full-time jobs and 5,000 construction jobs, according to the release. No ground-breaking date has been set, and no certificate of need is required. The work is expected to be completed in 2015.
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