News » Local

Economics of Long Term Care

By Haley Burton
January 16, 2012 Updated Jan 16, 2012 at 7:32 PM EDT

(WBNG Binghamton) Broome County is home to 37 nursing homes.

A first time report by LeadingAge New York looks at the economic impact the long term care industry has in the Southern Tier region.

"The report itself is a serious report in that it shows that long-term care and assisted living facilities, have a huge economic impact on New York State's economy," said Keith Chadwick, President and CEO of United Methodist Homes.

The report finds nursing homes alone generate 7,250 jobs in the Southern Tier region and $632 million dollars in economic activity annually.

United Methodist Homes employs more than 580 people, "Our economic impact, salary and all the economic indicators translate to $49.5 million dollars," said Chadwick.

Those numbers represent United Methodist Homes' two campuses in Broome County, one in Johnson City and the other in the Town of Dickinson.

"These jobs are critical. As you need help or care, it's essential you have people there right away," said Chadwick.

Chadwick says the long term care industry isn't going anywhere and with it being budget time in Albany, long term care facilities are lobbying against further state budget cuts that could impact jobs.

"When you cut back on Medicare and Medicaid, you are potentially taking jobs out of the system. People are only going to grow older and frailer," said Chadwick.

The reports also finds Willow Point Nursing Home pumps in $46 million to the Southern Tier and supports more than 500 jobs.

Long term care is proving to be key in helping support the local economy. Now care leaders want it to be key on the minds of New York legislators.

Chadwick says the statewide impact of long term care is $29 billion dollars.

The report was done for the first time this year (January 2012). Eighteen facilities from across the New York state were featured.

LeadingAge, formerly the New York Association of Homes & Services for the Aging (NYAHSA), represents not-for profit groups in New York that provide and support long term care. To read the report, Click here.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.