Home Economy Conn. Hospital Assn.: Health systems contribute $26 billion-plus to economy

Conn. Hospital Assn.: Health systems contribute $26 billion-plus to economy

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Connecticut hospital health systems contributed $26.2 billion to the state and local economies in 2015, according to a report released by the Connecticut Hospital Association.

The group’s 2017 Economic Impact Report also said that the state’s hospital health systems employ 100,000 people and that nearly every job produces another outside the hospital health system for 199,000 total jobs. Hospitals generated $14.7 billion in annual local payroll, $9.9 billion in spending on goods and services and $1.6 billion in capital spending in 2015, but they are also taxed and face funding cuts, noted Connecticut Hospital Association CEO Jennifer Jackson.

“Today they pay nearly 30 times the corporate tax rate,” Jackson said. “The proposed state budget would not only raise taxes further but would open a new door to letting municipalities tax hospitals. This is unacceptable and must stop. We need the state to invest in hospitals, which will strengthen our economy and build a healthier Connecticut.”

Founded in 1919, the CHA represents over 140 hospitals and health-related organizations.

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