According to a recent report issued by Southampton Hospital, the facility provided an estimated total economic impact of $211.9 million to the local community in 2013.
The report emphasizes thousands of jobs the hospital has created over the years, along with millions of dollars in federal and state taxes contributed from those salaries. In addition to that, Southampton generates thousands in revenues from construction projects through jobs and capital spending.
“We’re financially pretty sound,” Ken Wright, chairman of the hospital’s board of directors, said in an interview last week. “Each year we’ve gotten a little bit stronger.”
In 2013, according to the report, the hospital employed 720 full-time employees and more than 300 part-time workers, with a total payroll of $62,855,000. The money earned by employees generates about $124,780,000 in economic activity for local businesses and vendors, the report noted.
Purchases the hospital makes also provide a significant financial impact. With spending on goods and other necessary items totaling about $34,357,000 per year, the money the hospital spends generates approximately $68,205,000 back to the local economy, according to the report.
In addition to those economic benefits, the hospital’s capital spending has generated about $18,919,000 for the local economy per year. Students from the teaching and nursing program spend about $45,000 per year in the community, and the medical education program itself brings in about $110,000 per year from state and federal funding sources.
According to the report, in 2013, Southampton Hospital provided service to more than 5,700 inpatient visits, more than 75,000 outpatient visits and treatments, and more than 24,000 emergency room visits. It delivers more than 700 babies per year.