2010 Economic and Fiscal Impact Report Details Cleveland Clinic’s Economic Benefit to the Community
May 4, 2011
As a non-profit organization, Cleveland Clinic and its regional hospitals serve the community by caring for the sick and advancing medical care through research and education.
The health system’s 2010 Economic and Fiscal Impact Report shows that by fulfilling its mission, Cleveland Clinic also serves as a powerful economic engine in Northeast Ohio and the State of Ohio.
According to the newly released report, in 2009 Cleveland Clinic spurred nearly $10.5 billion of the total economic activity in Ohio. This translates to nearly 8 percent of the total gross regional product of the eight-county region. In other words, of every $100 of economic activity that occurred in the region in 2009, approximately $8, were directly or indirectly attributable to the presence of Cleveland Clinic.
“Each and every day, Cleveland Clinic employees dedicate themselves to putting patients first and delivering on our mission of patient care, research and education,” said Delos M. “Toby” Cosgrove, MD, President and CEO of Cleveland Clinic. “It is through this mission that we are proud to be contributors to the economic strength and vitality of our region.”
As the largest employer in Northeast Ohio and the second largest employer in the state, Cleveland Clinic supported over 81,000 direct and indirect jobs in Ohio in 2009, generating more than $3.9 billion in total earnings.
Likewise, in 2009, Cleveland Clinic’s economic activity supported more than 58,000 households in Ohio and those households spent approximately $2.3 billion purchasing goods and services in the state. Total state and local taxes of more than $663 million can be attributed to the presence of Cleveland Clinic.
Cleveland Clinic’s vast construction and expansion also had a significant economic impact on the Northeast Ohio region and the state. In 2009, the Clinic’s construction activity supported more than 3,600 direct and indirect jobs in Ohio, fueling $169 million in total wages. The ongoing construction projects also helped generate approximately $28 million in total state and local taxes in 2009.
“Cleveland Clinic depends on countless individuals, organizations and leaders from our local and regional community and the State of Ohio to sustain our ongoing growth and development for the benefit of our community,” Dr. Cosgrove said. “It is through these relationships that we will continue working together to revitalize our region and provide opportunities and employment for our region.”
The Economic and Fiscal Impact report is the result of an external economic analysis and underscores Cleveland Clinic’s strength as an economic generator.
Data gathered for the 2010 Economic and Fiscal Impact Report also reveal that in 2009:
- The Cleveland Clinic’s construction activity during the three-year period generated more than $84 million in state and local taxes, and had a total economic impact of $1.4 billion.
- Wages paid to Cleveland Clinic employees are on average, higher than the overall average wage in the State of Ohio and the Cleveland Metropolitan Statistical Area (approximately $57,000).
- The residential property taxes supported by the presence of Cleveland Clinic in the state were in excess of $225 million, enough to fund the educational costs of more than 24,000 K-12 public school students. The Clinic’s economic activity generated more than $660 million in direct and indirect state, county and local taxes.
- Cleveland Clinic purchased goods and services from Ohio vendors totaling approximately $1.1 billion.
- Cleveland Clinic attracted more than $190 million in grant and research funding to the region.
- As a single organization, Cleveland Clinic generates more economic output for Ohio than many of its top industries, including residential construction, legal services and engine parts manufacturing.
About Cleveland Clinic
Celebrating its 90th anniversary, Cleveland Clinic is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. It was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. Cleveland Clinic has pioneered many medical breakthroughs, including coronary artery bypass surgery and the first face transplant in the United States. U.S.News & World Report consistently names Cleveland Clinic as one of the nation’s best hospitals in its annual “America’s Best Hospitals” survey. About 2,800 full-time salaried physicians and researchers and 11,000 nurses represent 120 medical specialties and subspecialties. Cleveland Clinic Health System includes a main campus near downtown Cleveland, nine community hospitals and 15 Family Health Centers in Northeast Ohio, Cleveland Clinic Florida, the Lou Ruvo Center for Brain Health in Las Vegas, Cleveland Clinic Canada, and opening in 2013, Cleveland Clinic Abu Dhabi. In 2010, there were 4 million visits throughout the Cleveland Clinic health system and 155,000 hospital admissions. Patients came for treatment from every state and from more than 100 countries. Visit us at www.clevelandclinic.org. Follow us at www.twitter.com/ClevelandClinic.
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