(Spirit Lake)– A new study is out showing the economic impact hospitals have on the communities they serve.
The Iowa Hospital Association study finds that locally, Lakes Regional Healthcare generates 541 jobs directly and indirectly that add $19.4 million to the local economy. It also shows that the hospital’s employees spend a little more than six million dollars on retail sales and contribute $364,000 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 healthcare sector. The study was compiled from hospital-submitted data on the American Hospital Association’s annual survey of hospitals with software that other industries have used to determine their economic impact.
The study found that Iowa hospitals directly employ 70,484 people and create another 67,247 jobs outside the hospital sector. Hospitals provide $3.8 billion in salaries and benefits and generate another $2.3 billion through other jobs that depend on the facilities.
In all, the study finds that Iowa’s healthcare sector, which includes employed clinicians, long-term care services and assisted-living centers, pharmacies and other medical and health services, directly and indirectly provides 329,793 Iowa jobs, or more than one-fifth of the state’s total employment.
