Wayne Memorial Hospital Generates $125,333,072 for Local and State Economy
In 2018, Wayne Memorial Hospital in Jesup generated $125,332,084 in revenue for the local and state economy, according to a recently released report by the Georgia Hospital Association, the state’s largest hospital trade association. Wayne Memorial had direct expenditures of more than $54,497,379 in 2018. The total economic impact of those expenditures was $125,333,072 when combined with an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis. 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.
During the same time period, Wayne Memorial provided approximately $6,173,789 in uncompensated care while sustaining more than 509 full-time jobs throughout Jesup and Georgia. When a US Department of Commerce multiplier is applied to the jobs number, it is revealed that an additional 1,273 jobs are supported across the state due to the economic activity of Wayne Memorial. The hospital spent $27,351,309 in salaries and benefits, resulting in total household earnings in the community of $54,888,607.
“While we remain laser focused on Covid-19 and our service line to all patients, we want to share these numbers, as we always have, with the public,” says Hospital CEO Joe Ierardi. “Our mission is to not only to provide quality health care, but also to serve as an economic catalyst for the area,” he continues. “We are proud to partner with Jesup and surrounding cities to offer quality health care services close to home. As a leading employer in the region, we are dedicated to improving lives.Our hospital is open 24 hours a day, seven days a week, and is committed to ensuring our residents receive state-of-the art health care services. ”
According to Ierardi, every community needs nearby access to a strong, vibrant health care system that will not only meet the health care needs of its residents, but also attract other industries and businesses to the area. “Preserving access to health care is extremely important and we are the primary guardian of health in our community,” said Ierardi. “A healthy community depends on the strength of its hospital, both financially and in treating patients.”