Memorial Hospital of Sweetwater County Doubles Positive Payroll Impact Since 2010

Memorial Hospital of Sweetwater County Doubles Positive Payroll Impact Since 2010

SWEETWATER COUNTY — The Board of Trustees of Memorial Hospital of Sweetwater County (MHSC) announced the results of an Annual Economic Impact Analysis last week, conducted by healthcare consulting firm Quorum Health Resources. The report concluded that MHSC had a $216M positive impact on the community in 2015.

MHSC has grown over the years to become one of the region’s largest employers. MHSC is a major source of local employment and purchaser of goods and services while providing health care that allows people to be productive citizens. MHSC provides direct or indirect employment to nearly 700 individuals, resulting in wages and benefits in 2015 of $58M.

Both the number of people employed by MHSC and the overall payroll have doubled since 2010. Employees associated with MHSC realize higher than average wages than their neighbors in the community, state, and nation. The mean annual wage is nearly $20,000 more a year than other jobs available in the Rock Springs community.

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The number of physicians employed by MHSC has drastically increased in recent years. The annual incomes of these physicians are among the highest of any residents in Sweetwater County. Since the majority of these providers also live in Sweetwater County, the impact in stimulating the local economy has been remarkable significant.
The vast majority of MHSC employees live in Sweetwater County, and the majority of dollars earned by MHSC employees are spent back in the Sweetwater community on goods and services such as groceries, clothing, and mortgage payments. These expenditures generate $39,199,436 in economic activity and create an additional 73 jobs for the local economy.

The vast majority of MHSC employees live in Sweetwater County, and the majority of dollars earned by MHSC employees are spent back in the Sweetwater community on goods and services such as groceries, clothing, and mortgage payments. These expenditures generate $39,199,436 in economic activity and create an additional 73 jobs for the local economy.

The jobs created by healthcare organizations also serve to attract new residents to the region. The existence of a strong health care system like MHSC plays a critical role in local economic development by attracting business, industry, and retirees. The principal demographic factors driving increased demand for hospital care and other health care services – population growth and population aging – are projected to increase substantially over the next two decades.

A strong and convenient health care system is important to retirees, a special group of residents whose spending and purchasing is a significant source of income for the local economy. This community has an environment (e.g., good climate and outdoor activities) that enables it to be in a good position to attract and retain retirees.

The amount of spending by retirees, including the purchasing power associated with Social Security, Medicare, and other transfer payments, is substantial. Additionally, middle‐ and upper‐income retirees often have substantial net worth. Several studies have indicated that the availability of quality health services, along with safety, housing, and recreation opportunities, was a key predictor of retirement location considerations. In general, like workers, retirees are more likely to choose a retirement location that has access to quality health care – such as Sweetwater County.

In addition to its workforce, MHSC plays a significant role itself in stimulating the local economy. The hospital spends about $41M each year purchasing items such as medical supplies and equipment, water and electricity for its buildings, and food for patients. Capital spending by MHSC also generates approximately $4M for the local economy each year. Finally, the indirect impact MHSC makes on the local economy comes from out of town visitors to the hospital, who stay in hotels, eat in local restaurants and buy gas at local stations.

“Memorial Hospital of Sweetwater County is proud to be a contributor to the local economy, and a good neighbor,” stated hospital Board Chair Joe Manatos. “But our mission is first and foremost to deliver superior regional health care services that improve the health and wellness of all people and communities we serve.”