Story County Medical Center generates 187 full-time jobs in five communities throughout Story County. Those jobs create a $16,054,858 impact on Story County’s economy, according to the latest study by the Iowa Hospital Association (IHA). This number includes $12.5 million in payroll and proprietor income, $3.4 million in Story County retail sales and just over $200,000 in sales tax.
"Story Medical’s economic impact number is up by over $1.2 million dollars since last year. IHA’s annual study shows that the medical center is continuously contributing to a successful Story County economy," said Todd Willert, Story Medical Administrator.
The IHA study examined the jobs, income, retail sales and sales tax produced by hospitals and the rest of the state’s health care sector. The study was compiled from hospital-submitted data on the American Hospital Association’s Annual Survey of Hospitals and with software that other industries have used to determine their economic impact.
"As Nevada and other Story County communities work to attract new businesses and industries to our county, we know that quality of life is an important component to business location decisions," said LaVon Schiltz, Nevada Economic Development Director. "Story Medical’s presence is truly an asset in recruiting new projects to the area."
In all, Iowa’s health care sector, which includes employed clinicians, long-term care services, assisted living centers, pharmacies and other medical and health services, directly and indirectly provide 333,554 Iowa jobs, or more than one-fifth of the state’s total employment.
Story Medical is just one of the many hospitals in the state contributing to a recovering economy. The study found that Iowa hospitals directly employ 70,363 people and create another 65,783 jobs outside the hospital sector. As an income source, hospitals provide $3.9 billion in salaries and proprietor income and generate another $2.3 billion through other jobs that depend on hospitals.