BOISE, Idaho – St. Luke’s Health System generated $2.48 billion in economic activity during 2012, according to a recently released economic impact report.
The University of Idaho study completed by Professor of Economics Steven Peterson found that St. Luke’s five hospitals, associated clinics and other operations employed nearly 11,000 employees at the end of 2012 and recorded $1.3 billion in expenses.
The study commissioned by St. Luke’s determined that St. Luke’s expenditures in the market had a significant multiplier effect on the economy, generating $2.48 billion in sales. In addition, including St. Luke’s nearly 11,000 employees, the study found that St. Luke’s is responsible for a total of more than 25,000 jobs in Idaho’s economy, including more than 10 percent of all jobs in Ada and Canyon Counties.
To determine the economic impact, Peterson used accepted economic multipliers. St. Luke's total economic impact included the multiplier effect and was calculated based on sales transactions, gross regional product, total compensation, and indirect business taxes such as sales, property, and excise.
The largest economic impact was in the Treasure Valley, where St. Luke’s employs the bulk of its employees and is home to St. Luke’s Boise Medical Center and St. Luke's Meridian Medical Center. In the Treasure Valley, it’s estimated that St. Luke’s has a total economic impact of $1.96 billion. St. Luke’s accounts for a total of 19,625 jobs in the Treasure Valley, both directly and indirectly.
In the Magic Valley, St. Luke’s, which just opened a new $250 million hospital in 2011, had an estimated impact on the economy of more than $390 million. It’s estimated that St. Luke’s is responsible for 4,319 jobs in the Magic Valley, both directly and indirectly.
The study also looked at the economic impacts in Wood River, McCall, and Jerome. Here is a look at those impacts:
About St. Luke’s Health System
St. Luke’s Health System is Idaho’s largest and only locally-controlled not-for-profit health care system employing more than 11,000 people. Founded in Boise in 1902, St. Luke’s now has 5 hospitals in Boise, Meridian, Twin Falls, Ketchum, McCall and Jerome, and more than 100 outpatient centers and clinics throughout central and southwest Idaho. With a mission to “improve the health of people in our region,” St. Luke’s provides unmatched care in specialized medical fields including cancer, heart and vascular, obstetrics, women’s services and children’s health care. St. Luke’s is home to Idaho’s only Children’s Hospital and St. Luke’s Mountain States Tumor Institute. St. Luke’s is Idaho’s most awarded health care system. The hospitals of St. Luke’s have earned numerous national awards and recognition for excellence in patient care. For more information about St. Luke’s, visit www.stlukesonline.org
Ken Dey served as Public Relations Coordinator at St. Luke's from 2008-2014.