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Tulare hospital reopening to add $107 mil to local economy

Tulare hospital reopening to add $107 mil to local economy

Tulare County EDC study says reopening TRMC will support more than 600 jobs

@TheSunGazette

TULARE COUNTY – Reopening Tulare Regional Medical Center will do more than solve the health care crisis created by its closure, it will also add more dollars to the local economy.

The Tulare hospital is scheduled to open next month and is projected to generate approximately $107.1 million in economic impact annually and support over 660 jobs, according to an economic impact analysis commissioned by the Tulare County Economic Development Corporation and prepared by Impact DataSource of Austin, Texas.

The report analyzed the planned investments and hiring proposed by Adventist Health in reopening the hospital and calculates the economic and fiscal impact associated with the investment. The study was sponsored by Tulare County Board of Supervisors, SoCal Gas, Tulare Chamber of Commerce, Greater Tulare Chamber Trust, Tulare Hospital Foundation, Sequoia Regional Economic Development Foundation, and Adventist Health.

“The impact of the hospital is significant, not just in the medical care it provides and the lives it saves, but it also economically benefits nearly every industry sector in the County through local spending and payroll,” stated Tulare County Supervisor Pete Vander Poel.

On Sept. 10, more than 100 new and returning employees attended an orientation at TRMC held by Adventist Health in preparation for re-opening of the hospital. Adventist plans to hire another 100 employees before the opening on Oct. 15, 2018.

“With an average salary of $74,500 for hospital workers, the restoration of lost jobs and addition of new ones will have a positive impact in local spending as the hospital reopens and ramps up to full operation,” said Tulare Chamber President & CEO Donnette Carter.

The economic impact is measured based on employment, compensation to employees, economic output and the value added from the operation.

“Economic impact is more than the direct spending of the hospital and employees, as indirect spending and activity create additional economic impact and support further jobs in the community” stated EDC Vice Chairman Colby Wells of SoCalGas.

Tulare Local Healthcare District, the entity that owns Tulare Regional Medical Center added from the operation.

“Economic impact is more than the direct spending of the hospital and employees, as indirect spending and activity create additional economic impact and support further jobs in the community” stated EDC Vice Chairman Colby Wells of SoCalGas.

Tulare Local Healthcare District, the entity that owns Tulare Regional Medical Center (TRMC), closed the hospital for first time in the public hospital district’s history on Oct. 29, 2017. Tulare hospital district board members voted 5-0 on Aug. 1 to lease the hospital facility to Adventist Health. The vote for Adventist opened the door to a credit line of up to $10 million from Adventist Health to help the district reopen TRMC in mid to late October, pending approval by the California Department of Public Health (CDPH).

The line of credit will fund critical infrastructure items that need to be corrected before reopening. The line of credit used will be an offset to the lease as prepaid rent. Rent will be paid separately once Adventist assumes control of the hospital. The District is currently preparing a budget for uses of the line of credit. Withdrawals from the line of credit will be approved by Adventist.

The line of credit was secured by Evolutions, where a lien on the property placed for the former management company is being removed, and a 4-acre vacant lot next door. The hospital district will retain the 13 properties around the hospital which were reportedly valued at just under $5 million.

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