Florida’s hospitals generated $198.6 billion in total economic output in 2023 and supported nearly 977,000 jobs statewide when accounting for indirect and induced effects, according to an economic impact report released on Thursday and prepared by University of Florida researchers for the Florida Hospital Association.
The study examined 337 licensed hospitals operating in Florida during 2023. Those hospitals directly employed 348,085 full-time equivalent workers and paid $34.5 billion in wages, salaries and benefits. They reported $97.3 billion in total operating and non-operating revenues and $80.2 billion in operating expenses.
When economic ripple effects are included, such as hospital purchases from suppliers and household spending by employees, the industry’s total employment contribution rises to 976,834 full-time and part-time jobs. Total value added to Florida’s economy reached $104.7 billion, including $69.9 billion in labor income and $29.1 billion in property income.
Researchers estimate hospitals generated $23.3 billion in tax revenues in 2023, including $2.78 billion in local taxes, $2.97 billion in state taxes and $17.5 billion in federal taxes.“As Florida grows, so does the responsibility we share to care for the health and well-being of our communities through clinically excellent care,” said Randy Haffner, Board Chair of the Florida Hospital Association Board of Trustees and Group President and CEO of AdventHealth Florida and Clinical. “This report is a reminder that hospitals are more than places of healing. They are part of the fabric of our communities, helping people live healthier lives, supporting families, creating jobs and strengthening Florida’s economy in meaningful ways.”
The economic impact was distributed across the state’s regions. The Miami–Fort Lauderdale region recorded the largest total hospital employment contribution at 302,105 jobs, followed by Orlando with 247,462 jobs and Tampa–St. Petersburg with 156,679 jobs.
Hospitals operated in 58 of Florida’s 67 counties in 2023.
The report also found that hospital employment and value-added contributions increased compared with 2021 levels. Employment contributions rose 7.7%, while inflation-adjusted value added increased 3.4% over the two-year period.
The analysis was conducted using the IMPLAN economic modeling system and incorporated financial data from the Florida Agency for Health Care Administration. Researchers adjusted hospital financial reports to account for reporting differences among facilities and included multiplier effects to estimate broader statewide economic activity.
According to the study, total hospital value added in 2023 was equivalent to approximately 6.6% of Florida’s Gross State Product, underscoring the sector’s role as a major component of the state economy.
