Plans have been announced for the development of a medical trade center in Nashville that is being hailed as the first of its kind in the world.
The Nashville Medical Trade Center is being developed by Dallas-based Market Center Management Co. (MCMC), which plans construct a 12-story tower above the existing Nashville Convention Center. The tower will feature more than 1.5 million s.f. of exhibit space, including permanent exhibit space for more than 600 medical equipment companies, display space for temporary trade shows and a medical education and symposium center. The company is also exploring a possible public interaction center such as a museum or a broadcast center devoted to healthcare issues.
MCMC plans to immediately begin work on pre-leasing the proposed trade center’s permanent exhibition space, but development is contingent on pre-leasing a significant amount of exhibit space and securing financing, as well as the approval of a new convention center by the Nashville Metropolitan Council.
Developers estimate the cost of the project to be in the neighborhood of $250 million and estimate it will create approximately 2,700 new jobs.
“This announcement means Tennessee will be home to an important new concept in the marketing and procurement of medical equipment, technology and services,” said Tennessee Gov. Phil Bredesen. “The healthcare industry is a significant economic engine for our state and this project expands that footprint, representing a major investment in our state’s healthcare economy.”