BayCare Generates $13 Billion in Economic Impact Annually for Florida

CLEARWATER, Fla., Sept. 09, 2026 (GLOBE NEWSWIRE) -- BayCare’s commitment to serving the health care needs of the growing West Central Florida region also means positive outcomes for Florida’s economy. A new report by Washington Economics Group found that BayCare, the region’s largest academic health system, has a $13 billion impact on Florida’s economy each year, including supporting jobs for more than 66,000 Floridians.

Based on 2025 data, the economists found BayCare’s economic impact was up 30 percent since its last study based on 2022 data. The latest study found that annually BayCare:

• Generates $ 4.8 billion in household income
• Contributes $7.2 billion to Florida’s Gross Domestic Product (GDP)
• Provides more than $1.6 billion in revenues to federal, state and local governments

The economists also noted BayCare’s impact is expected to grow in the future. BayCare’s planned capital projects through 2030 will contribute an additional cumulative $6.6 billion in economic impact and an additional 30,871 jobs in the state. These include a new hospital in Manatee County opening in 2028, a new children’s hospital facility in Tampa opening in 2030, and expansion of its urgent cares, BayCare HealthHubs and freestanding emergency departments.

“BayCare’s growing economic impact reflects our strong financial stewardship and commitment to health and well-being of all of West Central Florida,” said Stephanie Conners, BayCare president and CEO. “Health care is changing rapidly, and at BayCare, our disciplined growth also serves the region by providing high-quality care while supporting jobs, workforce development, research, community partnerships and investments that help strengthen Florida’s economy.”

BayCare’s economic impact reflects the vital role health care systems play in the overall well-being of a community. In addition to statewide economic impacts, the study details the impacts of BayCare’s 16 hospitals and in each of the five counties served:

• Hillsborough and Pinellas County operations provide more than $4.1 billion and over $5.1 billion in total economic impacts, respectively.
• These are followed by Polk County with over $1 billion in total economic impact, Pasco County with $677 million, and Manatee County with $88 million. Pasco grew by 71%, the highest percentage, in large part due to the opening of BayCare Hospital Wesley Chapel in 2023.

BayCare 16 hospitals provide the largest portion of economic impact at $8.7 billion. BayCare Medical Group, the region’s largest multispecialty physician group, grew by 154% to $1.9 billion.

The economists also highlighted how BayCare’s commitment to Florida’s next generation of physicians, nurses and health care professionals through its Graduate Medical Education and workforce development programs benefit the entire state’s economic health. According to the study, 77% of the jobs supported are in higher-wage, knowledge-based services. The study cited additional significant qualitative or social impacts, including:

• Supporting economic development efforts to expand sectors that are innovation-driven, high-wage and high-skilled.
• As a nationally recognized employer, contributing to the region’s corporate culture and reputation as it seeks to recruit other high-wage and high-skilled industries to West Central Florida.
• As a committed civic partner, providing significant health services to the underserved and reducing burdens on the public sector. BayCare provided $500 million in Community Benefit programs and health care services in 2025.

For more detail and access to the report, visit BayCare 2026 Economic Impact Report.

About BayCare

BayCare is a leading not-for-profit academic health care system that connects individuals and families to a wide range of services at 16 hospitals, including a children’s hospital, and hundreds of other convenient locations throughout the Tampa Bay and central Florida regions. The system is West Central Florida's largest provider of behavioral health and pediatric services and its provider group, BayCare Medical Group, is one of the largest in the region. BayCare's diverse network of ambulatory services includes laboratories, imaging, surgical centers, BayCare Urgent Care locations, wellness centers and one of Florida's largest home care agencies, BayCare HomeCare. BayCare's mission is to improve the health of all it serves through community-owned, health care services that set the standard for high-quality, compassionate care. For more information, visit BayCare.org. 

Contact Info

BayCare Health System
Maral.Marandi@BayCare.org
+1 727-432-7461

Attachment

• BayCare 2026 Economic Impact Report