Akron Children’s Hospital has $1.5 billion economic impact

(Ohio) – Akron Children’s Hospital contributed $1.5 billion to Ohio’s economy in 2017, according to a recent economic impact study.

Akron Children’s commissioned Kent State University and the W. E. Upjohn Institute for Employment Research to estimate the impact of its activities on greater Akron, its 20-county service area and the State of Ohio in 2017.

The study showed that in 2017 Akron Children’s:

  • 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 gross domestic product (GDP) to $875 million, and
  • Had a $133 million community benefit, which includes free and subsidized health care; community programs and services; research, advocacy, and community partnerships; and health professional education.

The study also shows the trajectory of increases from 2013 to 2017.

Akron Children’s has two hospital campuses – in Akron and Boardman – and more than 60 pediatric primary, specialty, and urgent care locations throughout the region. In 2017, Akron Children’s treated more than 250,000 patients from 83 Ohio counties, all 50 states, and 15 countries from around the world.

“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,” said Grace Wakulchik, president and CEO of Akron Children’s. “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.”

Taxes generated by Akron Children’s enhance public schools, social services, and infrastructure improvement.

“We are gratified to have this information, but know a study like this cannot capture the impact our employees make in their communities as they volunteer at their churches, lead scout troops, serve on school boards, and give of their time and resources in other ways,” Wakulchik said.

The report, which can be found at https://www.akronchildrens.org/pages/economic-impact.html, offers economic impact for the following areas of the hospital’s 20-county service area.

  • Summit
  • Stark
  • Medina
  • Portage
  • Mahoning
  • Trumbull
  • Columbiana
  • Cuyahoga
  • Tuscarawas
  • Wayne and Holmes (combined)
  • Richland, Ashland, Huron and Crawford (combined)
  • Carroll, Harrison, Jefferson, and Guernsey (combined)

The Kent State-Upjohn team used several sources to provide estimates of Akron Children’s impact, including revenue data coupled with the location (county) of both the services rendered and patient families. Location-based employment and vendor data were also used.

Leave a Reply