There’s a company in Cleveland that, in one year, generated more than $570 million in state and local taxes. With more than 35,000 employees, it’s also the largest employer in Northeast Ohio, and the second largest employer in the state.
No, it’s not the Browns or the Cavaliers (even when King LeBron was still in town). Possibly the Rock and Roll Hall of Fame plays a role, but isn’t that the case for rock and roll in all of life?
The Cleveland Clinic and its suburban hospitals are the ones making this enormous impact on the city and state economy – $8.9 billion in 2006 alone. It’s also one of the many reasons a city once criticized as much as Detroit is now called “The Comeback City.”
And Cleveland isn’t the only place where an academic health center is improving the economic health of its community.
After a decline in manufacturing, Baltimore shifted to a service-oriented economy where Johns Hopkins is now the largest employer. In fact, one out of every $28 in the state’s economy starts at Johns Hopkins Institutions, which includes its medical center. A few years ago, the state invested $20 million in a new cancer research building, allowing Johns Hopkins to expand its cancer research by $23 million a year, support 690 new jobs and produce $31 million a year in spinoff income.
In Pennsylvania, Penn State Hershey Medical Center delivered in 2009 more than $45 million in uncompensated care, added $1.6 billion to its state economy, and employed 20,000. Once suffering from the fall of steel and coal, now health care, retail and tourism have grown into profitable state industries.
I think you get the point: These health care organizations are revitalizing and redefining their cities’ economies through jobs, community events, research and medical innovations.
And it’s no different in Detroit, home to The Henry Ford Hospital, Medical Group and Health System.
In a city usually defined by its automobile manufacturing history, we’ve been a major economic engine for nearly 100 years.
Not only are we one of the city’s largest employers, we’re one of its biggest investors and supporters. With patients traveling from across the globe for care, and researchers and physicians hailing from more than 50 nations on staff, we continue to make Detroit a medical destination.
As you’ll see in the video posted above, our growth in people and facilities only strengthens our commitment to Detroit.
Our roots are here. And our future opportunities to develop and rebuild the city are endless.