Date: 03/28/2018
The Maine Hospital Association has released a new report that describes the economic contributions of hospitals in each Maine county.
The analysis quantifies hospitals’ economic contribution to Maine. The results reveal a robust and growing industry making significant economic contributions across the state.
“Because it describes the impact in each county, this report allows hospitals to show the impact they have on their local economy,” said MHA President Steven Michaud. “Maine hospitals' primary mission is to heal the sick and injured and improve the health of our communities, but a very important byproduct of that is the enormous economic contribution we make to our communities.”
In 2016, Maine hospitals directly employed almost 33,000 people and paid more than $2.5 billion in salaries and benefits. Their total spending was $5.7 billion, including $5.5 billion in operating expenses and $231.8 million in capital expenditures. As that money circulated through the Maine economy, it generated an additional $4.5 billion in indirect and induced economic activity, leading to a total economic contribution of more than $10 billion. This supported a total of 67,000 jobs, $4 billion in wages and benefits and almost $400 million in state and local taxes.
MHA worked with the firm 45 North, whose principals include two former Maine state economists.
View the report here.