Sacramento Business Journal by Kathy Robertson, Senior Staff WriterDate: Wednesday, November 28, 2012
The five privately operated hospitals in Solano County are responsible for more than 11 percent of the local economy — and could grow even more important in the future — according to a study released Wednesday.
The hospitals pay almost $319 million annually in wages, with 4,085 employees in January 2012 accounting for slightly more than 2 percent of the total employment payroll in Solano County.
Annual revenue from hospitals represents more than 7 percent of total revenue generated by Solano County businesses overall. Because of their links to education and demand for skilled workers and medical professionals across multiple job classifications, hospitals heighten their economic impact by paying good wages and purchasing supplies, concludes the study by Economic Forensics and Analytics in Petaluma.
The five hospitals in the report are: Sutter Solano Medical Center in Vallejo, Kaiser Permanente Medical Centers in Vallejo and Vacaville, and NorthBay VacaValley Hospital in Vacaville. The study was commissioned by the Hospital Council of Northern and Central California.
“Hospitals are an economic engine for the community,” Robert Eyler, an economics professor at Sonoma State University and principal of the consulting firm that did the study, said in a news release. “They generate support for education, jobs and businesses, all the while continuing their critical mission of providing health-care services locally.”
For a PDF download of the economic impact study, click here.