Iowa Hospital Association Releases Report On LRH Impact On Local Economy
(Spirit Lake)-- The Iowa Hospital Association has released a report that details the impact Lakes Regional Healthcare has on the local economy.
The study shows the facility generates 452 jobs adding over $19 million to Dickinson county's economy, with employees spending over $6.5 million on retail sales while contributing over $395,00 in state sales tax revenue.
The IHA study examined the jobs, income, retail sales and sales tax produced by hospitals and the rest of the state's health care sector. The study was compiled from hospital-submitted data on the American Hospital Association's Annual Survey of Hospitals and with software that other industries have used to determine their economic impact.
The study found that Iowa hospitals directly employ a little more than 72,000 people and create another 55,492 jobs outside the hospital sector. According to the report, hospitals generate $4.5 billion in salaries and benefits along with another $2.3 billion through other jobs that depend on hospitals.
In all, the study says Iowa's healthcare sector, which includes physicians, dentists and other health practitioners, nursing home and residential care, other medical and health services and pharmacies contributes $16.6 billion to the state economy while directly and indirectly providing 324,977 jobs, or about a fifth of the state's total non-farm employment.