July 23rd, 2014
JPS Health Network generates nearly $1.7 billion in economic activity and supports more than 12,500 jobs that pay more than $750 million in wages and benefits to Tarrant County residents annually, according to a new economic analysis of Fort Worth’s Hospital District prepared for Fort Worth South, Inc.
“Being a driver of economic activity and serving to the region’s healthcare needs solidifies the importance of JPS to the community,” write the authors, researchers at the Center for Economic Development and Research at the University of North Texas.
More than 5,700 people work directly for JPS, but JPS supports more than twice that many jobs in part because most of the network’s vendors are within the region, according to the report, which is based on capital and operations expenditures data for fiscal years 2010-2012. “This spending circulates through the region creating economic opportunity across a wide range of industries and business activities,” the authors wrote.
Zip code data shows JPS employees commuting from all parts of Tarrant County, with high concentrations of JPS employees in the northwest and southern suburbs. (Two zip codes contain the homes of more than 220 JPS employees each — 76133 in south Fort Worth and 76028, which includes Burleson.)
Capital spending, mostly on construction and equipment, totaled $88 million between 2010 and 2012. That spending generated more than $36 million in economic activity and supported 255 jobs that paid more than $15 million in wages and benefits.
State and local taxing jurisdictions received $56 million each year in revenue from sales and property tax payments, and fees for permits and licenses paid by JPS and the businesses that JPS supports.
The report also examined the overall economic impact of the Medical District, which includes five hospitals, the Moncrief Cancer Institute and dozens of doctors’ offices and other non-hospital medical services providers.
The Medical District generated more than $5.5 billion in economic activity in 2013, including wages and benefits for 38,985 employees.
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