Cedars-Sinai Health System Generates Broad Economic Impact
Cedars-Sinai Health System contributed $15.4 billion in economic benefit to Southern California in fiscal year 2021 by creating and supporting tens of thousands of jobs, fueling major construction spending and assisting numerous community benefit programs across the Los Angeles region, according to a new analysis.
The broad economic impact extended beyond the healthcare sector. Wages paid to Cedars-Sinai staff and payments for goods and services brought economic benefits to the regional economy, creating and supporting jobs in transportation, trade, insurance, manufacturing and other sectors.
In total, the health system provided or indirectly contributed to 81,680 jobs for workers who earned $6.5 billion in salary and benefits in FY21, according to the analysis by the Los Angeles County Economic Development Corporation. Full Report Here.