SGMC Generates $601,000,000 for Local Economy
4/12/2011In 2009, South Georgia Medical Center in Valdosta generated approximately $601,000,000 in revenue for the local economy according to a recent report by the Georgia Hospital Association, the state’s largest hospital trade association. The report also found that, during the same time period, SGMC provided approximately $26,847,924 in uncompensated care while sustaining more than 4,191 full-time jobs throughout Valdosta and the rest of the state.The report revealed that SGMC had direct expenditures of more than $243,066,862 in 2009. When combined with the an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was more than $601,000,000. 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.“This new report shows that, even in these difficult economic times, SGMC has an enormous positive impact on our local economy,” said James McGahee, SGMC’s CEO. “We thank the community for its unwavering support and will continue to work hard to ensure that the citizens of this community have access to healthcare services that are second to none in quality and affordability.”For more information, contact SGMC’s Community Relations office at 229-259-4421.