Economic Activity Supports Families, Neighborhoods and Community Life in Nevada
Cleveland Clinic Lou Ruvo Center for Brain Health contributed $48.9 million to Nevada’s economy in 2019, according to Cleveland Clinic’s most recent economic and fiscal impact report released today.
“In just 12 years, the Lou Ruvo Center for Brain Health has developed into a powerful economic generator in Nevada,” said Erick Vidmar, the center’s administrative director. “Cleveland Clinic’s contributions to the communities in which it serves extend beyond the world-class care of neurological diseases for patients to the support of our state and local economies to benefit all Nevadans.”
In 2019, more than 300 jobs generating approximately $22 million in wages and earnings were directly and indirectly attributed to the Lou Ruvo Center for Brain Health. The center’s economic activity was accountable for $5.7 million in federal income taxes and $2.5 million in total state and local taxes paid by employees and vendors.
Households supported by Cleveland Clinic spent more than $20 million on goods and services, and the organization purchased $6.3 million of goods and services from Nevada businesses. In addition, patients visiting the Lou Ruvo Center for Brain Health spent an estimated $1 million in Nevada.
“Caring for the community is a priority at Cleveland Clinic,” said Tom Mihaljevic, M.D., Cleveland Clinic CEO and President. “As we celebrate our 100th anniversary, we are proud of our impact on the physical and economic health of our neighborhoods and embrace our role as an anchor institution.”
Cleveland Clinic’s goal is to create the healthiest community today and for future generations through actions and programs to heal, hire and invest for the future. The health of every individual affects the broader community.
The health system invests in local businesses through the purchase of goods and services. That investment helps cities and neighborhoods thrive through tax revenues that support critical health services and infrastructure.
Every three years, Cleveland Clinic produces an economic impact report, which is a comprehensive look at how the health system affects the economy of a region. This year’s report is based on 2019 data. The previous report, based on 2016 data, showed that the Lou Ruvo Center for Brain Health added to the Nevada economy by $47 million.
The report is the result of an economic analysis completed by Silverlode Consulting utilizing IMPLAN, a widely used economic impact modeling system.
About Cleveland Clinic:
Cleveland Clinic – now in its centennial year – is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. Located in Cleveland, Ohio, it was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. Cleveland Clinic has pioneered many medical breakthroughs, including coronary artery bypass surgery and the first face transplant in the United States. U.S. News & World Report consistently names Cleveland Clinic as one of the nation’s best hospitals in its annual “America’s Best Hospitals” survey. Among Cleveland Clinic’s 70,800 employees worldwide are more than 4,660 salaried physicians and researchers, and 18,500 registered nurses and advanced practice providers, representing 140 medical specialties and subspecialties. Cleveland Clinic is a 6,500-bed health system that includes a 173-acre main campus near downtown Cleveland, 19 hospitals, more than 220 outpatient facilities, and locations in southeast Florida; Las Vegas, Nevada; Toronto, Canada; Abu Dhabi, UAE; and London, England. In 2020, there were 8.7 million total outpatient visits, 273,000 hospital admissions and observations, and 217,000 surgical cases throughout Cleveland Clinic’s health system. Patients came for treatment from every state and 185 countries. Visit us at clevelandclinic.org. Follow us at twitter.com/ClevelandClinic. News and resources available at newsroom.clevelandclinic.org.
About the Lou Ruvo Center for Brain Health:
Cleveland Clinic Lou Ruvo Center for Brain Health, which opened in 2009, provides expert diagnosis and treatment for individuals and families living with Alzheimer’s disease, Lewy body, frontotemporal and other dementias; Parkinson’s and Huntington’s disease, multiple system atrophy and other movement disorders; and multiple sclerosis. With locations in Cleveland, Ohio; Weston, Florida and headquarters in Las Vegas, Nevada, the center offers a continuum of care with no-cost opportunities for the community to participate in education and research, including disease prevention studies and clinical trials of promising new medications. An integrated entity, Keep Memory Alive, raises funds exclusively in support of the Nevada location. Clevelandclinic.org/Nevada.