New Jersey hospitals had a $20.9 billion economic impact on the state and local economies in 2013, according to a report released this week from the New Jersey Hospital Association.
In 2013, hospitals spent $20.9 billion within state and local economies, about 2.45% higher than the $20.4 billion in expenditures reported in 2012. They paid $8.3 billion in 2013 wages, about 2.47% higher than the year before, while spending $2.8 billion on goods and services within the state, up 7.69% from the year prior.
Goods and service purchases from within the state included $1.4 billion in contracted labor, $962 million in pharmaceutical drugs and $267 million on utilities. Hospitals spent 9% more on drugs in 2013 than the year prior.
Hospital employment fell in the state with 117,000 full-time equivalent jobs coming from the state's hospitals in 2013, down 2.56% from 120,000 jobs in 2012. However, radiology jobs did increase by 10.6%.
Hospitals paid $140 million in state and local taxes and fees in 2013, 1.45% higher than the $138 million they paid the year before. Employees contributed $457 million in state income taxes in 2013, down 1.75% from $449 million in 2012.
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