How many jobs, economic impact

Smith & Nephew is part of Memphis' medical device sector.

While Memphis might be known as the logistics capital of the world, another sector has been providing thousands of jobs and billions in gross domestic product for the region: the medical device manufacturing industry.

A new study released by the Greater Memphis Medical Device Council Tuesday showed more than 18,000 jobs in the Memphis area are directly or indirectly supported by the industry and the total wages paid to those workers are about $1.5 billion annually. The projected annual economic impact of the industry on the region is more than $4 billion, about 5.5% of the Memphis GDP.

Conducted by Jackson, Tennessee-based Younger Associates, the study also showed the average annual wage paid to direct employees of device manufacturers − which encompasses a variety of jobs and pay scales − is more than $103,000. The industry has added more than 1,900 jobs locally since 2015.