NYS Economic Impact Study

In addition to enhancing the health and well-being of the community, New Island Hospital contributes significantly to the area's economic health. According to the latest Healthcare Association of New York State - HANYS report, New Island Hospital contributes significantly to the area's economic health with an estimated $188,215,000 annual economic impact. The Hospital employs 640 full time people, plus a significant number of per diem employees, agency workers, with a total payroll of $45,204,000.  Hospital payroll expenditures serve as an important economic stimulus, creating and supporting jobs throughout the local and state economies. New Island Hospital medical staff physicians contribute greatly to the economy of the community. It is impossible to accurately evaluate the true economic impact of such a large and diverse series of successful private practices, but undoubtedly the impact is in the multi-million dollar range. There practices are clearly related to the hospital in many ways, and their location is directly attributable to their close proximity to the hospital.

Dollars earned by New Island Hospital employees spent on groceries, clothing, mortgage payments, rent, etc., generate approximately $95,747,000 in economic activity for the local economy. New Island Hospital is an anchor in our community spending about $42,254,000 per year on goods and services it needs to provide healthcare. Dollars spent by New Island generate approximately $89,498,000 for the local economy. The hospital's payroll of $45,204,000 serves as an important economic stimulus, creating and supporting jobs throughout the local and regional area economy.