CALIFORNIA BUSINESS MINUTE
Socal Hospitals
Economic Impacts
10-09-09
Hi, I am Tim Johnson and welcome to the California Business Minute.
In a report on the economic impact from the 212 hospitals located in the counties
comprised of Los Angeles, Orange, Riverside, San Bernardino, Ventura and Santa
Barbara in southern California, the estimate of their total economic contribution
was $85 billion in economic output, contributing to over 12 percent of the regional
gross product.
In addition, hospitals and related businesses accounted for direct and indirect
employment equivalent to 640,000 full-time jobs in this six county region in 2004.
The report identified that this estimate is an understatement of the actual number
of workers engaged in hospital-related employment, because many work part-time.
Even on an FTE basis, hospital related employment represented 9.1 percent of all
full time and part time non-farm workers that comprise these six counties.
Wages and salaries for this workforce comprised an estimated $29.1 billion of which
$21 billion was directly related to hospitals and $7.9 billion was paid to employees
from related health care services in support of hospitals.
Hospital generated more than $2 billion in tax revenues including $1.2 billion in
state income taxes and $816 million in state sales tax receipts.
The report was completed by the Los Angeles Economic Development Corporation for
the Southern California Hospital Association in 2006.
I am Tim Johnson and this has been the California Business Minute.
To view the report go to: http://www.laedc.org/reports/consulting/2006-HASC.pdf
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