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Hospitals ARE Economic Development

We know importance of hospitals for their healthcare benefits and services offered 365 days a year. However, we rarely emphasize their economic impact.

Hospitals, as institutions, invest heavily in research & development, machinery, utilities, bed linens and drugs, etc. Hospitals' high reliance on these goods and services makes them large consumers of other products. The demand for these goods sends a ripple effect through the economy causing another round of spending and hiring by suppliers and other firms. Hospitals also trigger tourism when the families of patients stay in nearby hotels and visit nearby stores and restaurants.

Hospitals, as employment centers, employ a large number of people: surgeons, nutritionists, accountants, custodians, technicians, etc. Those workers spend their money in the community which supports other businesses and generates tax revenue for government services (roads, fire, police, schools, etc.).

Hospitals are here to stay because there is always a need for healthcare. Hospitals aren't recession proof, but they are less sensitive to economic recessions and downturns. Plus, they make communities more attractive to move a business, to live in, and retire to.The benefit of having hospitals in our communities extends far beyond physical wellness and significantly into the realm of economic wellness.


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