Fresno’s Four Major Hospitals Generate $625M Per Year for Local Economy, Report Finds
The Fresno area's four major hospitals generate $625 million annually for the local economy, supporting industries such as construction and retail, according to a recent report, the Fresno Bee reports. The report, commissioned by the Economic Development Corp. Serving Fresno County, found that Fresno's four health systems -- Community Medical Centers, Saint Agnes Medical Center, Kaiser Permanente and Children's Hospital Central California in Madera -- have a combined 10,735 employees with an annual payroll of $468 million. The report also found that hospitals support 6,600 other "indirect jobs," from construction firms to linen companies, with a payroll of $188 million. In addition, hospital purchases and employee spending generate the following:
- $3.3 million in local sales and property tax revenues and $18 million in state sales and personal income taxes annually;
- $336 million in hospital construction spending that created more than 1,100 direct construction jobs and 2,000 indirect jobs in 2001 and 2002; and
- $17 million paid to state and local governments in one-time construction sales taxes related to hospital development.