KNOXVILLE — Knoxville Hospital & Clinics (KHC) generates over 275 jobs that adds over $16 million to the Marion County economy, according to the latest study by the Iowa Hospital Association (IHA).
In addition, KHC employees spend over $4.8 million on retail sales and contribute over $293,000 in state sales tax revenue.
“We are proud to be able to contribute to the economic success of our community,” said Knoxville Hospital & Clinics CEO Kevin Kincaid. “As a community partner, we understand the impact of our hospital extends beyond health care, and we take great pride in being an important component of our local economy by providing jobs and keeping our community productive and healthy.”
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.
Across the state, community hospitals create an enormous economic impact. Hospitals not only provide jobs, they create jobs by purchasing goods and services from other businesses. Hospitals are essential to local and statewide economic development. Companies that want to relocate or expand demand access to comprehensive, high-quality health care services.
Listed in the study, Iowa hospitals provide 78,000 jobs that pay more than $5 billion in salaries. Community hospital employees spend over $2 billion in retail sales and contribute over $124 million in state sales tax revenue.
The IHA study also examined the economic impact of other sectors in the state's health care industry, including nursing homes and residential care, pharmacies, ambulatory health care services, home health care services, and physicians, dentists and other health practitioners.