June 9, 2021 (Lewistown, Mont.)— A new study released today by the today by the Bureau of Business and Economic Research (BBER) shows CMMC contributes to:
* 948 permanent, year-round jobs;
* $66.6 million of annual, recurring income received by Montana households, of which $60.5 million is disposable, after-tax income;
* Over $204.4 million in added economic output annually; and
* About 1,774 additional state residents.
In 2019, Fergus County’s population was 11,050 with a total personal income of $515.4 million. Fergus County residents earned labor income was $308.2 million.
Central Montana Medical Center paid its 365 employees a total payroll of $17.9 million, about 5.8% of total county earnings, and provided an additional $3.6 million in employee benefits. Central Montana Medical Center billed about 89% to county residents and provided $482,000 in medical services to out-of-state patients.
“Our mission is to expand and improve quality access to affordable healthcare for our neighbors. This research shows that above and beyond our calling, we are also providing vital economic contributions including high quality, stable, year-round jobs, income that puts food on the table for our local families and disposable income that invests in our local businesses,” said Cody Langbehn, hospital CEO. “Looking forward, we hope our elected officials and other stakeholders will see the value we provide to our community beyond our doors and work with us on shoring up our healthcare infrastructure.”
At the statewide level, the report shows Montana hospitals account for close to 18 percent of Montana’s private sector employment and 13 percent of total private sector wages. The research documents the powerful role Montana’s hospitals are playing as a leading economic driver for the state in terms of income and job growth.
The study shows that Montana’s hospitals account for:
* About 83,900 permanent, year-round jobs across the state;
* Over $6.3 billion of annual, recurring income received by Montana households, of which $5.7 billion is disposable, after-tax income;
* State tax and nontax revenues of approximately $1.5 billion per year;
* Over $16 billion in added economic output annually; and
* About 147,500 additional state residents.
When it comes to jobs, income, and economic output as a percentage of total statewide figures, Montana hospitals support 12.1 percent of the state’s private sector jobs; contribute 13.4 percent of the state’s personal income; and fuel 16.4 percent of the state’s economic output, while contributing more than $1.5 billion in tax revenues.
“Access to quality healthcare is crucial to our ability to attract new businesses, retain talent, and promote our region as a great place to live, work, and raise a family,” said Lewistown Chamber of Commerce. “This report highlights how our local hospital not only provides important jobs for our community, but also serves as a major economic driver.”