Boone County Hospital (BCH) generates 352 jobs that add $16,115,130 to Boone counties economy, according to the latest study by the Iowa Hospital Association. In addition, BCH employees by themselves spend $4,421,038 on retail sales and contribute $265,262 in state sales tax revenue.
“Boone County Hospital is pleased to play such an important role in the economic impact of our community,” says Joe Smith, BCH CEO. “As one of the largest employers in Boone County, we strive to keep residents here and also to bring new families into our community.”
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 72,220 people and create another 76,876 jobs outside the hospital sector. As an income source, hospitals provide $3.3 billion in salaries and benefits and generate almost another $2.4 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 366,072 Iowa jobs, or more than one-fifth of the state’s total employment.
“Even in these difficult economic times, Iowa hospitals remain major employers and business partners throughout the state,” said Kirk Norris, IHA president/CEO. “In addition to providing essential health care and community services, hospitals are at the foundation of Iowa’s economic infrastructure. The state’s economic security is clearly linked to maintaining the high-quality health care system we now enjoy.”