New York’s Hospitals Boost Local Economy

The New York City Health and Hospitals Corporation (HHC), the largest municipal hospital system in the U.S., is a powerful economic force in the New York City metropolitan area. HHC’s overall annual spending exceeds $6.3 billion, and its five-year capital plan has put $1.2 billion into the local economy. The health system spends more than $630 million a year on equipment, supplies and food. Statewide, New York City’s public hospitals, nursing homes and health centers provide 45,317 jobs; spending by the people in these jobs generates more than $4 billion a year for the local economy.

HHC’s hospitals play a key role in medical research throughout the state. The Health Association of New York State (HANYS) reports that research programs and grants at hospitals statewide draw significant funding from sources outside the community every year. HANYS also notes that taxes paid by hospital employees support local schools, police and fire departments, parks, and community centers.

HHC serves 1.3 million New Yorkers annually, including nearly 450,000 who are uninsured. The integrated health system provides medical, mental health and substance abuse services through its 11 acute care hospitals, four skilled nursing facilities, six large diagnostic and treatment centers and more than 80 community-based clinics.