Please do not leave this page until complete. This can take a few moments.
Connecticut hospital health systems contributed $26.2 billion to the state and local economies in 2015, according to a report released by the Connecticut Hospital Association (CHA).
The 2017 Economic Impact Report was released amid hospitals’ fight against Gov. Dannel Malloy’s proposal for a local-option property tax on hospitals and certain related properties, which are currently tax exempt. CHA has been airing TV commercials opposing the tax.
Hartford’s three acute-care hospitals would pay about $56 million a year to the city under the proposal.
The opposition comes despite a pledge from Malloy to reimburse hospitals with supplemental Medicaid funds to fully offset the local taxes they would pay, a pledge hospitals don’t trust based on past experiences. But a state official has said he would favor a "statutory or other assurances" requiring the state to keep its reimbursement promise this time.
CHA’s report said Connecticut hospital health systems employ 100,000 people and nearly every job produces another outside the hospital health system, for 199,000 total jobs. Hospitals generated $14.7 billion in annual local payroll, $9.9 billion in spending on goods and services, and $1.6 billion in capital spending, in 2015, but they are also taxed and face funding cuts, CHA CEO Jennifer Jackson said.
“Today they pay nearly 30 times the corporate tax rate,” Jackson said. “The proposed state budget would not only raise taxes further but would open a new door to letting municipalities tax hospitals. This is unacceptable and must stop. We need the state to invest in hospitals, which will strengthen our economy and build a healthier Connecticut.”
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments