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Healthcare's Impact on Local Economy

Mar 10, 2017

In all, Iowa’s Healthcare Sector Provides 324,977 Jobs Across State.

Grinnell Regional Medical Center generates 542 jobs, direct and indirect, that add $32,756,814 to the region’s economy, according to the latest study by the Iowa Hospital Association. In addition, GRMC employees by themselves spend more than $6.6 million on retail sales and contribute $397,290 in state sales tax revenue.

The IHA study examined jobs, income, retail sales, and sales tax produced by Iowa’s 118 hospitals and the rest of the state’s healthcare sector. Hospitals statewide submitted data through the American Hospital Association’s Annual Survey of Hospitals where it was then compiled with software that other industries have used to determine their economic impact.

The study found that Iowa hospitals directly employ 72,008 people and create another 55,492 jobs outside the hospital sector. Hospitals provide $4.47 billion in income through salaries and benefits and generate an additional $2.3 billion through other jobs that depend on hospitals.

Offices of physicians, dentists and other health practitioners, nursing home and residential care, other medical and health services, and pharmacies make up the Iowa healthcare sector, which contributes $16.58 billion to Iowa’s economy while directly and indirectly providing 324,997 jobs. This figure makes up more than one-fifth of Iowa’s total non-farm work force.