Newly released analysis forecasts substantial economic growth for Georgia within the first three years of Medicaid expansion
ATLANTA, March 25, 2024 /PRNewswire/ — Georgia Health Initiative’s new Issue Brief highlights key findings on the economic benefit of Medicaid expansion across business sectors and in every region of the state. These findings are informed by an economic impact analysis that was commissioned by the Initiative to study how expansion would affect the state’s economy. According to the research, Medicaid expansion is projected to result in large-scale economic growth in Georgia. Across the initial three years of expanding the program, Georgia would see an average increase of more than 51,264 new jobs each year. On a yearly average, Georgia also would see a $9.4 billion increase in economic output, a $5.5 billion increase in gross domestic product, and a $3.6 billion increase in personal income.
Among the new jobs created through Medicaid expansion, the majority would be in business sectors outside of the healthcare industry. For instance, average yearly job growth across the first three years is projected to include 5,186 new jobs in construction, 2,919 new jobs in administrative and support services, and 2,101 new jobs in restaurants and other similar establishments, in addition to other non-healthcare-related job growth.
The economic benefits of Medicaid expansion would be felt in every corner of the state. Georgians living in rural counties are expected to experience annual average increases of 5,611 new jobs, $862.4 million in economic output, and $477.3 million in personal income.
“Multiple reports already have been published that show how Medicaid expansion would increase healthcare coverage and improve access to care for uninsured Georgians,” said Kristy Klein Davis, President of Georgia Health Initiative. “By commissioning new economic analysis, we now have updated data that project the economic impact of expansion to our state. Decisions around how to design and operate our state’s Medicaid program are critical and impact both the health of our neighbors and our state’s economy. Conversations must be informed by timely and comprehensive data to make sure we see the big picture as any decisions are made.”
Read the Issue Brief here.
Find the full economic impact analysis report authored by Regional Economic Models, Inc. here.
Georgia Health Initiative is an independent nonprofit organization whose mission is to inspire and promote collective action that advances health equity for all Georgians. Learn more at georgia health initiative.
For more information, contact:
Joann Yoon Kang
Vice President of Strategic Communications
Georgia Health Initiative
[email protected]404.719.5883
SOURCE Georgia Health Initiative