WMC creates $25 million impact on local economy
In Iowa, hospitals generate $6 billion and 71,000 jobs
Thursday, August 07, 2014 7:38 AM
Winneshiek Medical Center (WMC) generates 583 jobs that add $25 million to the Northeast Iowa/Southeast Minnesota economy, according to the latest study by the Iowa Hospital Association.
In addition, Winneshiek Medical Center employees by themselves spend $6 million on retail sales and contribute $361,000 in state sales tax revenue.
“Winneshiek Medical Center is in the business of taking care of our community. Not only do we approach that responsibility from a health care perspective, we also look at how we can positivity impact the local economy,” said Lynn Luloff, chief financial officer, Winneshiek Medical Center.
“Dollars that are spent at WMC are re-invested in the community by continually expanding local health care services, such as the recent expansion and opening of hometown primary care clinics in the Ossian and Mabel communities. We strive to provide quality, convenient health care, which in turn, keeps the dollars in our community for local growth.”
“It is well-known that two critical factors in corporate decision-making about site selection are the quality of a town’s schools and the availability of comprehensive, top-quality health care,” said Randy Uhl, director of Winneshiek County Development, Inc. “The presence of a top-rated medical facility in our community makes Winneshiek County more competitive as it seeks the economic growth that is so important to the future of the city and region.”
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 71,437 people and create another 57,792 jobs outside the hospital sector. As an income source, hospitals provide $4.2 billion in salaries and benefits and generate another $1.8 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 307,402 Iowa jobs, or about one-fifth of the state’s total non-farm employment.
“People are often unaware of the contributions that hospitals make to their local economies, including the number of people they employ, the significance of hospital purchases with local businesses and the impact of their employees’ spending and tax support for an entire region,” said Kirk Norris, IHA president/CEO. “Just as no one provides the services and community benefits found at community hospitals, there is also no substitute for the jobs and business hospitals provide and create.”
The Iowa Hospital Association is a voluntary membership organization representing hospital and health system interests to business, government and consumer audiences. All of Iowa’s 118 community hospitals are IHA members.
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