GRMC Generates $32 Million Impact on Area Economy

Grinnell Regional Medical Center employs more than 400 people, generates another 190 healthcare sector jobs, and adds $32 million to the Poweshiek County economy, according to the latest study by the Iowa Hospital Association. In addition, GRMC employees themselves spend $5.93 million on retail sales and contribute $356,000 to state sales tax revenue.

The IHA study examined the jobs, income, retail sales, and sales tax produced by Iowa’s 118 hospitals and the rest of the state’s healthcare sector, including local physician and dental offices, pharmacies, nursing and residential care, and related services. The study was compiled from data submitted to the American Hospital Association’s Annual Survey of Hospitals, using software from other industries to determine economic impact.

GRMC Board President Todd Reding said that the IHA study confirms the medical center’s significance to the community. “The IHA study acknowledges the vital role GRMC plays in both the physical and fiscal health of the surrounding area,” Reding said. “GRMC is an interdependent service provider that returns substantially to the community, and in turn relies on the community for support of its expanding diagnostic and treatment facilities to boost local health and wellness.”

Overall, Iowa hospitals directly employ 71,324 people and create another 50,131 jobs outside the hospital sector. As an income source, hospitals provide $4.2 billion in salaries and benefits and generate another $1.9 billion through other jobs that depend on hospitals. The healthcare sector contributes $14.3 billion to Iowa’s economy while directly and indirectly providing 293,758 jobs, or about one-fifth of the state’s total non-farm employment.

All of Iowa’s 118 community hospitals are members of the Iowa Hospital Association, a voluntary membership organization representing hospital and health system interests to business, government and consumer audiences. Complete information from the study is available on the IHA website at ihaonline.org.

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