Akron Children’s Hospital had a $1.5 billion impact on Ohio’s economy in 2017, a new study says.
The Akron-based hospital hired Kent State University and the W.E. Upjohn Institute for Employment Research to estimate the financial impact of its activities on Greater Akron, its 20-county service area and the state in 2017.
“We have always taken pride in our clinical excellence and our steady growth but we were interested in documenting the economic impact of our enterprise,” Chief Executive Officer and President Grace Wakulchik said in a prepared statement. “The findings of this study — in jobs, personal income, GDP and other measures — document the vital force Akron Children’s has become to our local economies and the state as a whole.”
The study noted that the hospital:
• Added 10,696 Ohio jobs that wouldn’t have been created or retained without the health system’s operations.
• Helped increased personal income to $598 million.
• Helped increase the gross domestic product (GDP) to $875 million.
• Had a $133 million benefit to the community through free and subsidized health care; community programs and services; research, advocacy and community partnerships; and health professional education.
Children’s Hospital has two hospital campuses — in Akron and Boardman — and more than 60 pediatric primary, specialty and urgent care locations throughout the region. In 2017, the hospital system treated more than 250,000 patients from 83 Ohio counties, all 50 states, and 15 countries from around the world.
The report is available at https://www.akronchildrens.org/pages/economic-impact.html.