The institute is the research facility for pediatric diseases and illnesses for the largest childrens hospital in the Northwest.
Seattle Children's Hospital Research Institute
In 2008, Opportunity Fund invested $3.7 million through New Market Tax Credits to support the expansion of the Seattle Children's Hospital Research Institute (SCHRI), which became the largest research facility for pediatric diseases and illnesses in the Northwest following its expansion. SCHRI provides the research support for the Seattle Children's Hospital which provides medical care to children regardless of the family's ability to pay.
The census tract in which the SCHRI medical and research facility is located in downtown Seattle has a poverty rate of 40% and an unemployment rate that was 3.66 times the national average. Additionally, 40% of Seattle Children's patients are without private insurance and receive coverage by Medicaid.
Opportunity Fund's investment allowed the hospital to build out 80,000 square feet of research and office space, effectively doubling the amount of research space and allowing SCH to attract the top pediatric researchers in the region.
The hospital hosts more than 230,000 hospital annual visits for an estimated 73,000 patients. The Institute created 243 permanent jobs and became a LEED-certified building.
SCHRI has also been a catalyst for the creation of jobs for low-income workers, with their current expansion creating approximately 151,000 hours of construction work for 89 workers.