Iowa’s Community Hospitals Asset to State Economy
Monday May 4, 2009
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But the economic impact of hospitals extends beyond the people they hire and their salaries. The business and household needs of hospitals and their employees creates a multiplier effect that supports thousands of additional jobs. In fact, the IHA study found that for each job provided by Iowa hospitals, 2.06 additional jobs are created. This means more than 149,000 jobs are tied to Iowa hospitals, creating an overall impact worth more than $5.8 billion to Iowa’s economy.
Retail sales generated by hospitals and their employees exceed $1.8 billion, according to IHA’s study. In turn, that retail activity generates sales tax, a major revenue source for government, worth more than $112 million.
While hospitals are by far the greatest economic contributor to Iowa’s healthcare industry, facilities such as nursing homes, pharmacies, and ambulatory healthcare services also have a significant impact. For example, healthcare practitioners directly and indirectly provide more than 79,000 jobs with an economic impact exceeding $4.1 billion. Similarly, nursing homes and other residential care providers create more than 90,000 jobs and add nearly $2 billion to the economy.
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