UCD hospital a major boon
By Enterprise staff
UC Davis Health System and other medical schools and teaching hospitals are a major economic force, with a collective economic impact of $451 billion in the United States and $35.5 billion in California alone, according to a new study released by the Association of American Medical Colleges.
The report, released this month, evaluated the economic impact of 125 accredited medical schools and more than 400 major teaching hospitals in the United States using data from fiscal year 2005. The report, titled “The Economic Impact of AAMC-Member Medical Schools and Teaching Hospitals,” is available online at www.aamc.org/economicimpact.
The AAMC report detailed other key findings, including how medical schools and teaching hospitals employ nearly one out of every 48 wage earners in the United States and provide nearly 200,000 full-time jobs in California.
UC Davis Health System is one of the largest employers in the Sacramento region, with approximately 10,000 individuals on its payroll. It has $465 million in annual total payroll expenses for UCD Medical Center jobs, salaries, wages and benefits.
Ann Madden Rice, CEO of the UCD Medical Center in Sacramento, said in a news release that the hospital is “proud to play such a major role in the local economy and community development.”
“Our mission is to improve health, foster economic development and broaden educational opportunities. All of those goals play a major role in stimulating and adding to the economy,” Rice said.
Other key economic impacts of the health system include:
* $262 million in purchased goods and services for the Medical Center, 80 percent of which comes from local vendors or local branches of national companies;
* $74 million for Medical Center capital expenditures and construction projects, including electronic medical records, the School of Medicine's education and F. William Blaisdell, M.D., Library building, Davis Tower floor completions, and a new surgery and emergency department facilities in Sacramento. The last project is still in process and ultimately will result in $424 million in expenditures.
* $121 million in research grants and contracts, primarily within the UCD School of Medicine, with expenditures for research activities in both Davis and Sacramento.
“To get a good sense of UC Davis' economic contributions, you don't have to look any further than Stockton Boulevard in Sacramento,” Richard Greene, executive director of the Stockton Blvd. Partnership, said in the news release.
“What was once a struggling street of boarded-up buildings in an economically distressed neighborhood is now a vibrant, attractive business corridor. The Medical Center's growth over the past few years accounts for much of that economic vitality.”
In addition, UCD recently completed a new education building and library for its School of Medicine, bringing an additional 200 students to Sacramento for classes and other school-related activities. Many of these students now live in Sacramento, adding to the vitality and growth of the nearby communities.
The AAMC report notes that the overall economic impact of institutions such as UCD Health System on California and the national economy takes into account the direct and indirect business volume generated by medical schools and teaching hospitals, including institutional spending; employee spending; and spending by patients, their families and visitors (excluding spending for patient care and medical services).
According to the study, every dollar spent by a medical school or teaching hospital indirectly generates an additional $1.30 when it is “re-spent” on other businesses or individuals, resulting in a total impact of $2.30 per dollar. UCD Health System estimates its total economic impact in the Sacramento region at approximately $1.5 billion annually, based on multipliers used in a 2004 UCD Economic Impact Study.
The AAMC report does not include the economic impact of patient care-related spending at hospitals, nor does it account for the economic benefits of physician training programs, uncompensated charity care or community service programs such as UCD's free community medical clinics in the Sacramento area that are managed and staffed by medical students.
Monday, February 12, 2007
Saturday, February 17, 2007
- Biotech Behemoth Leads Vacaville Boom
- Magna Set to Jockey on Downs
- State Yanks 80/680 Junction Off Funding List
- Suisun to Consider Hampton Inn's Plans for Waterfr...
- Amusement Park Adds Extra Dimension to Nut Tree Vi...
- Nut Tree Set For Phase 2
- Solano Cities Hope Hotels Can Help Tap Into Touris...
- Revenue Outlook Is Rosy For Dixon
- 'Napa Valley Cuisine at Vacaville Prices'
- County May Lower Solar Panel Cost Again
- Supes to Pick New Members of General Plan Committe...
- Realizing our economic potential in Solano County
- Solano homes slightly more affordable
- East Bay's housing slump may soon affect jobs, st...
- Spirits of invention - sacbee.com
- A Federal Reserve economist sees job growth, housi...
- Wolk Backs Fix At I-80, 680 Merge
- Old Country Roofing Dives Further Into Solar
- Water Money Flows
- Expect Good Job Prospects in Solano County This Ye...
- Governor Stokes Hope for Interchange Funding
- State Stem Cell Grants Awarded
- Racetrack Campaign Brings Out Big Gun
- Survey Shows Local Employers Ready to Expand Workf...
- Health and Crime Lab in the Works
- Building For Education
- East Bay home sales down again in January
- Will Solano County someday add another city?
- Solano County enjoyed a remarkable - and record-br...
- Two University of California Davis scientists won ...
- '08 should be big year for I-80 repair
- UC Davis Health System has major economic impact o...
- CTC staff puts widening of Highway 12 in Jameson C...
- Solano Supes increase emergency funds
- STA determines priority projects
- Bay Area home prices, sales sliding toward cellar
- More employers recruit the military work ethic - T...
- First Northern Bank, announced the appointment of ...
- Woodland's future has its bright spots
- Solano County unemployment dipped to 4.5 percent i...
- Vallejo car mart alternative to purchasing vehicle...
- Solano waiting to see if highway projects on list
- View From Fhe Summit
- Solano Waiting to See if Highway Projects on List
- Business, Government Leaders Focus on Working Toge...
- BAY AREA
- Bay Area home sales slowest in 11 years
- Economic Summit Strategy: To Define Vision For Sol...
- Workforce Board Receives $135,000 Grant
- Ag Ambassador Making Suisun Valley a 'Must-See' De...
- Solano EDC Touts County at Conference
- Solano, Napa Clinics Receive Kaiser Windfall
- E.D.D: Drop in Jobless Rate
- Bright Budget
- Center Helps Would-Be Small Business Owners
- '08 Should Be Big Year for I-80
- Big Bay Area campuses are making it on life (scien...
- January new-home sales in Northern California reac...
- Premier Commerical Inc. PRESS RELEASE
- Dixon Smiles Beyond its Political Turbulence
- Plan to Open Staples Store Being Studied
- Major Projects May Give Boost to Suisun City
- Old Country Roofing, 40 year-old Vacaville-based c...
- Wildlands Opens Solano County Mitigation Bank
- Local Mom-and-Pop Vineyard a Winner
- BP Funds Berkeley in Biofuels Research
- Suisun City Budget Healthier Than Expected
- Solano County's Economy on the Rise
- Analysts See More Growth in Solano
- Scottrade Opens Office in Fairfield
- On the Cutting Edge
- The California Building Standards Commission has a...
- Environmental Clean-Up Firm to Head Project
- Big Building, Bigger Investment
- Dixon and Suisun City Fire Departments to Get Gran...
- Willotta Oaks
- UC Davis News & Information :: New student health ...
- Impact Report for New UC Davis Primate Center Labs...
- Vet students learn farm animal skills on the job
- $5.1 Million to Fund Ag Health and Safety Center a...
- Solano likely to benefit by Dems' clout
- Dixon sees road to better Rt. 113
- CALSTAR, short for California Shock/Trauma Air Res...
- Recruitment Coup
- BIRDS LANDING, SOLANO COUNTY
- Applications up at Sacramento State - Sacramento B...
- Cal to be hub for study of alternate fuel
- $57 Million in Measure V Funds Spent So Far on Vac...
- ▼ February (88)
- ► 2006 (662)
- ► 2005 (627)
- ► 2004 (125)