Colorado Mesa University Davis School of Business Professor of Economics Nathan Perry, Ph.D., completes annual economic impact report for St. Mary Medical Center.
Perry's research interests include regional economics, macroeconomics, and money and banking. He has conducted several regional economic studies including economic impact studies, public land studies, and has published work on Deficits and Debt, inflation and the Great Depression. Perry writes quarterly economic newsletters for Mesa, Montrose and Delta Counties, and semi-annual newsletters for Garfield, Rio Blanco, Moffat and Routt Counties. Perry regularly presents on the economic conditions of the Western Slope, Colorado and the national economy.
Perry's findings reveal that St. Mary's is a significant contributor to Mesa County's economy, making a staggering contribution of $443,426,992 through wages, spending and capital investments. This amount represents a robust 6% of the total goods and services produced in Mesa County, emphasizing the hospital's substantial role in shaping the county's financial health.
Key Findings:
- St. Mary's accounts for about one-third of the healthcare and social assistance industry's contribution to Mesa County's economy, with the healthcare sector making up 12.5% of the county's overall economy.
- Mesa County and Grand Junction serve as the healthcare hub for Western Colorado and Eastern Utah, with 13.7% of the county's jobs in the healthcare sector.
- St. Mary's is a significant employment powerhouse, directly employing 2,739 individuals and having a total employment impact of 4,701, contributing to approximately 5% of Mesa County's workforce.
- In 2022, St. Mary's paid over $264 million in wages, health insurance and benefits, representing 5.8% of the county's total wages.
- Despite being a nonprofit hospital, St. Mary's economic activities generated more than $105 million in tax revenue, showcasing its role in sustaining community infrastructure and services.
The full report can be found HERE.