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Multiplier effectdriver of employment and dollars in

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Unformatted text preview: Driver of Employment and Dollars in Other Sectors of the Colorado Economy A recent report, Examining the Impacts of Hospitals on Colorado’s Economy, published in 2011 by the Regional Economics Institute at Colorado State University and the Colorado Hospital Association, notes that in 2009 hospitals accounted for $9.8 billion in output, which represents about 2% of the state’s total output. Taking into account that the economic activity of hospitals contributes to economic activity in other sectors of the economy (called the multiplier effect), the same report notes that hospitals directly and indirectly generate $18.8 82 billion in output, which translates into 133,100 jobs with average employee compensation of slightly more than $55,700. Over the past few years, construction of new hospitals had been one bright spot in an otherwise ailing sector. While declines in the number of hospital projects in the last couple of years have been significant, one recently announced project is Exempla Healthcare, which is beginning a $623 million renovation project to replace its St. Joseph Hospita...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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