Hospitals have $5.7 billion impact on state’s economy
Iowa’s hospitals are helping keep the state’s economy healthy, according to the latest figures from the Iowa Hospital Association. Iowa’s 117 community hospitals generate 154,528 jobs that add more than $5.7 billion to the state’s economy, according to the association’s latest Iowa hospital economic impact report. In addition, Iowa hospital employees spend nearly $1.9 billion on retail sales and pay more than $93 million in state sales taxes.
The annual study, which examines the jobs, income, retail sales and sales taxes produced by hospitals and the rest of the state’s health-care sector, found that Iowa hospitals directly employ 71,446 people and create another 83,082 jobs. That combined figure represents about 10 percent of Iowa’s work force of approximately 1.5 million workers.
As an income source to the state’s economy, hospitals provide $3.2 billion in salaries and benefits and generate almost $2.5 billion through other jobs that depend on hospitals. By comparison, total wages paid in all jobs in Iowa represented an estimated payroll of $50.48 billion, according to second-quarter Iowa Workforce Development statistics.
“Iowa hospitals are major employers and business partners throughout the state,” said Kirk Norris, IHA president and CEO. “As Iowa continues to look for opportunities to grow its economy and stabilize its population, a strong health-care system, anchored by well-supported community hospitals, is essential.”