Southwell has $894.9M Impact on Local Economy
Tuesday, August 3rd, 2021
Southwell has more than a $894.9 million impact on the local economy according to a recent report by the Georgia Hospital Association (GHA), the state's largest hospital trade association. This includes Tift Regional Medical Center in Tifton and Southwell Medical in Adel.
The report revealed that Southwell had direct expenditures of more than $390.8 million in 2019. When combined with an economic multiplier developed by the United States Department of Commerce's Bureau of Economic Analysis, the total economic impact of those expenditures was $894.9 million. This output multiplier considers the "ripple" effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals. Economic multipliers are used to model the resulting impact of a change in one industry on the "circular flow" of spending within an economy as a whole.
“We are dedicated to providing timely, quality care to our patients and community,” said Chris Dorman, President and CEO of Southwell. “We are proud to offer this care and help ensure that our communities thrive in terms of wellness, but also from an economic standpoint. Over the years we have grown and expanded to better serve the needs of our community, and we are excited to continue that growth in the future.”
Tift Regional Medical Center is Tift County's largest employer with 2,675 employees. Southwell Medical in Cook County adds another 246 employees. The GHA report noted that as a supplement to the people directly employed by Southwell, the hospital system's presence in the region creates an additional 6,824 jobs to the community. This includes physician offices, nursing homes, suppliers, home health care and more.
“Every community needs a strong, vibrant healthcare system that will attract other industries and businesses to the area in addition to meeting the healthcare needs of its residents,” said Dorman. “Preserving access to health care is extremely important and we are the primary guardian of health in our community. A healthy community depends on the strength of its hospital, both financially and in treating patients, and we are honored to be able to contribute to this community and region.”