SARH credited with $31M impact to area's economy
February 26, 2013
St. Anthony Regional Hospital not only serves the health-care needs of more than 60,000 people living in the region but also plays a vital role in the area's economic health.
A recent study by the Iowa Hospital Association shows that St. Anthony Regional Hospital's 576 hospital jobs fuel a total of 970 jobs in the Carroll area that add $31,025,842 to the Carroll economy. In addition, St. Anthony Regional Hospital employees by themselves spend $10,980,291 on retail sales and contribute $549,015 in state sales-tax revenue through their purchasing power.
"St. Anthony Regional Hospital has a tremendous impact on the economy of Carroll and the surrounding area," said Ed Smith, St. Anthony president. "We are grateful to the Franciscan Sisters for the support and encouragement that has allowed the growth St. Anthony has experienced, as we continue to meet the healthcare needs of those in Carroll and our surrounding area."
St. Anthony, as a private, not-for-profit hospital, does not receive local property-tax funds to support the health-care services offered to the approximately 60,000 people who live in the area surrounding Carroll. As a major employer in the Carroll area, St. Anthony contributes to the local economy with a payroll and benefits, the study shows, and St. Anthony's employees positively impact the area's economic sectors as they purchase goods, pay income and sales tax and participate in community activities.
"In most Iowa counties, hospitals are among the three or four largest employers, but it's more than just providing jobs," said Iowa Hospital Association president and CEO Kirk Norris. "People are often unaware of the broader contribution that hospitals make to their local economies, the significance of hospital purchases with local businesses and the impact of their employees' spending for the entire region."
Iowa community hospitals generate more than 133,000 jobs that add nearly $6.2 billion to the state's economy, according to IHA's latest Iowa hospital economic impact report. In addition, Iowa hospital employees by themselves spend $1.8 billion on retail sales and contribute nearly $106 million in state sales tax revenue.
The study found that Iowa hospitals directly employ 71,169 people and create another 62,198 jobs outside the hospital sector. As an income source, hospitals provide more than $4 billion in salaries and benefits and generate another $2.2 billion through other jobs that depend on hospitals.
In all, Iowa's health-care sector, which includes employed clinicians, long-term care services and assisted living centers, pharmacies and other medical and health services, directly and indirectly provides 321,355 Iowa jobs, or more than one-fifth of the state's total employment.
St. Anthony president Smith, added, "As St. Anthony continues to respond to meet the healthcare services needed by our community, the physicians and staff who deliver health care to Carroll will play an ever-increasing role in maintaining the economic strength of our region."
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