Source: Ellie Hensley, Atlanta Business Chronicle
When Central Atlanta Progress (CAP) first introduced its economic impact award in 2008, Grady Memorial Hospital was on the brink of bankruptcy. Ten years later, the hospital is not only in the black, it is also expanding its services and its physical footprint, two reasons why Grady is the recipient of CAP’s Marcus Downtown Economic Impact Award for 2018.
The award was created to recognize an individual, company or project that stimulated revitalization efforts and helped fuel downtown Atlanta’s economic engine.
“Grady has been around a long time. It recently celebrated its 125th anniversary,” said CAP President A.J. Robinson. “It has a huge impact on people’s household earnings, but not everyone realizes it’s also a regional disaster-coordinating body with a level-one trauma center. You couldn’t host things like the Olympics, Super Bowl and NCAA Final Four without checking that box.”
In 2015, Grady Health System’s total direct expenditures reached $756.2 million, according to the Georgia Hospital Association. It generated $788 million in household earnings and was responsible for 11,344 full time jobs in Georgia.
“You look at the number of dollars Grady spends on capital equipment, payroll, supplies and the cost of physician staffing thorough Emory and Morehouse[School of Medicine], and it adds up to a huge economic impact,” said Grady Memorial Hospital CEO John Haupert. “The number I keep seeing is $1.7 billion in economic output, but I imagine it’s a lot greater.”
Read the complete article at the link above.