Association N.J.’s hospitals engineer 18.6B in economic activity

Garden State hospitals are working to keep patients healthy, but in doing so, they’re also providing first aid to the state’s economy, according to a report issued today by the New Jersey Hospital Association.

Garden State hospitals are working to keep patients healthy, but in doing so, they’re also providing first aid to the state’s economy, according to a report issued today by the New Jersey Hospital Association.

The state’s hospitals contributed $18.6 billion in economic activity in 2010, according to the report, which also shows hospitals employ 140,000, including 114,000 full-time employees. The state Department of Labor and Workforce Development reports health care and social assistance accounts for nearly 500,000 jobs here.

The NJHA says hospital employees paid roughly $420 million in payroll taxes last year, while hospitals themselves contributed almost $130 million in taxes. The 72 hospitals in the state also purchased $2.4 billion in services from other New Jersey businesses.

“New Jersey’s health care community is a source for hope, not just for the quality care we provide to people in their times of need, but because we are one of the only economic engines generating new jobs,” said association President and CEO Betsy Ryan in the report. “Hospitals continue to provide economic stability to our state, and they play a critical role in our continued hopes for an economic recovery.”

The report was created with statistics drawn from the hospitals cost reports filed with the Department of Health and Senior Services, as well as other public data.