Carthage, IL – Memorial Hospital is a key contributor to Illinois’ economic growth by creating good-paying jobs supporting working families while promoting community health and well-being. According to a new report, Memorial Hospital provides 566 direct and indirect jobs for the community, generating a total annual impact of $103.9 million on the local and state economy.
The report on Memorial Hospital’s economic impact was developed in conjunction with the Illinois Health and Hospital Association (IHA), whose statewide economic impact report underscores the important role of Illinois hospitals as powerful economic drivers.
“Memorial Hospital is dedicated to our community. We provide lifesaving care and healthcare services that enhance individual and community health and well-being,” said Ada Bair, CEO of Memorial Hospital and Hancock County Senior and Childcare Services. “We are also proud of our role in strengthening the local economy and supporting families with good-paying jobs.”
Among the report’s key findings:
- Memorial Hospital employs 241 people directly, expending $24,415,592 a year on direct payroll, and creates 325 indirect jobs with $33,180,790 in indirect payroll.
- Memorial Hospital spends $40,605,059 on supplies/services and $5,706,525 capital—both direct and indirect—for a total of $46,311,584 combined.
- Memorial Hospital has a total annual economic impact of $103.9 million.
IHA’s statewide economic impact report highlights the following:
- Hospitals pump $117.7 billion into the state economy;
- One in 10 Illinois jobs is in healthcare;
- For every Illinois hospital job, another 1.4 jobs are created in other sectors; and
- Hospitals employ 190,000 Illinoisans in good-paying jobs.
“As strong community anchors, Illinois hospitals and health systems generate a tremendous amount of economic activity. They are major employers who provide good-paying jobs and large buyers of supplies and services,” said IHA President and CEO A.J. Wilhelmi. “Their impact on the economy comes in addition to the work of providing essential healthcare services, enhancing individual and community health and well-being, and addressing health disparities so all individuals can achieve optimal health.”
Estimates of the Illinois hospitals’ economic benefits were based on the Regional Input-Output Modeling System II (RIMS-II) developed by the U.S. Bureau of Economic Analysis (BEA). The Final Demand multipliers, obtained from BEA RIMS-II, were applied to 2022/2023 Medicare cost report data of hospital jobs and spending to obtain the “ripple” effect of jobs and spending throughout the economy.
About IHA
The Illinois Health and Hospital Association, with offices in Chicago, Naperville, Springfield, and Washington, D.C., advocates for Illinois’ more than 200 hospitals and nearly 40 health systems as they serve their patients and communities. IHA members provide a broad range of services—not just within their walls but across the continuum of healthcare and in their communities. Reflecting the diversity of the state, IHA members consist of nonprofit, investor-owned, and public hospitals in the following categories: community, safety net, rural, critical access, specialty and teaching hospitals, including academic medical centers. For more information, see team-iha.org. Like IHA on Facebook. Follow IHA on X.
