Mercy Health Contributed $10.1 Billion to Ohio’s Economy, including $3.9 Billion in Greater Cincinnati
Mercy Health once again partnered with the University of Cincinnati Economics Center to identify and report how it benefits the financial vitality of communities it serves across Ohio and Kentucky.
The report, compiled with full data from 2016, shows that:
• Mercy Health contributed $10.1 billion to the Ohio economy, up almost 13% from five years ago.
• Its average capital expenditures of nearly $400 million annually added more than 5,700 jobs and $283 million in household earnings per year.
• Mercy Health employees paid nearly $257.8 million in sales, income and other tax revenue.
• Counties Mercy Health serves include 33 percent of all Ohio residents (3.8 million people), making one of every three Ohio residents a past, present or potential Mercy Health patient.
“Mercy Health understands healthier communities are prosperous, vibrant places where people live, work and play in safety and security. We are honored to contribute to that prosperity of communities through jobs and investment that make Ohio a better place to live,” said John Starcher, president and CEO, Mercy Health.
Mercy Health’s impact in Greater Cincinnati in 2016 was significant. Mercy Health - Cincinnati’s 277 points of care generated a total economic output of $2 billion.
The 2016 operations impact of Mercy Health — Cincinnati also included:
• $874.7 million in total household earnings
• A total employment impact of 17,957 jobs, 8,094 of whom were Mercy Health employees
Mercy Health’s Home Office facility in Cincinnati in 2016 had $615.9 million in operating expenditures and generated a total economic output of $1.2 billion. The 2016 operations impact of the Home Office also included:
• $542.8 million in total household earnings
• A total employment impact of 12,830 jobs, 4,254 of whom were Mercy Health Home Office employees
When compared to total operations for all points of care, Home Office and all other facilities in 2011, Mercy Health — Cincinnati’s 2016 total economic output saw an increase of 37% from its previous expenditure level of $2.5 billion.
In 2016, total household earnings were 23% higher than the 2011 level of $920.3 million. Total employment was 78% higher in 2016, with 2011 having 17,215 total jobs, of which 9,520 were Mercy Health employees.
To provide state-of-the-art healthcare for its patients, Mercy Health also made investments in facilities and capital equipment, including new construction and capital expenditures. From 2014–2016, Mercy Health — Cincinnati spent an annual average of $253.2 million on construction and capital investments, which produced an average economic output of $472.4 million annually, including:
• $146.3 million in annual average household earnings
• An average of 2,844 jobs annually due to capital expenditures
Compared to the capital expenditure impact in 2011, total employment was 38% higher in the annual average for 2016, total earnings increased by 40% from $104.2 million and total output was 28% higher from the 2011 total output level of $369.4 million.
Mercy Health — Cincinnati also produced several other benefits resulting from its operations and capital expenditures in Southwest Ohio, which include:
• An estimated $29.6 million in local sales, income, property and other tax revenue
• $82.8 million in uncompensated care and other wellness benefits for Southwest Ohio
“Mercy Health’s team is proud to provide top quality care to residents of Greater Cincinnati,” said Mike Garfield, President and CEO, Mercy Health – Cincinnati. “As the economic impact report shows, our operations support our community in ways that extend beyond healthcare and include employment and direct investment in the region.”
Additionally, the economic impact shows that while Mercy Health employs more than 31,430 people in Ohio, those jobs supported more than 44,000 additional jobs. In the core counties of four of our regions—Lorain, Lima, Youngstown and Springfield—Mercy Health is the largest employer. And in the other two regions, we are among the top five employers.
“I want to thank all the men and women of Mercy Health who work every day in service to our patients. And thank you to all our patients and their families for choosing Mercy Health to care for you,” Starcher said.
Visit https://www.mercy.com/global/about-us/economic-impact-report to read the full report.