Boston Children’s Hospital
Boston Children’s Hospital is a nonprofit academic health system that serves a primary market of Massachusetts as well as serving an essential role of health care providers for children across the New England area and in some cases the nation and the world. Boston Children’s Hospital provides access to more than 40 clinical departments and 258 specialized clinical programs, making it one of the largest pediatric medical centers in the United States.
Boston Children’s contracted with Tripp Umbach to complete an economic impact assessment of the overall entity as well as the individual satellite locations. Tripp Umbach quantified the broad impacts throughout the Commonwealth of Massachusettes and the city of Boston as they relate to the economic, job, and tax revenue benefits associated with Boston Children’s operations.
This economic impact analysis focused on the combined impacts across Massachusetts, as well as impacts within each of the areas where it has operations.
Boston Children’s Hospital plays an important role in the economies of the Commonwealth and the local communities where it has a presence, providing services to a diverse range of communities, each with complex challenges.
The Boston Children’s Hospital enterprise directly or indirectly impacts residents throughout the region by means of organizational spending, employment opportunities, government revenue generated from spending, research activities, and visitor spending in the region (e.g., retail, foodservices, cultural events, etc.). In 2020, the overall economic impact of Boston Children’sHospital on the Commonwealth of Massachusetts amounted to $5.2 billion annually.
Industries impacted by Boston Children’s Hospital’s spending include the real estate market, financial institutions, legal services, and the hospitality industry.
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Tripp Umbach Project Director
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