Press releases

Yale-New Haven Hospital news release
Release date: June 9, 2005
Media contact: Vin Petrini, (203) 688-2612

Yale-New Haven Hospital Cancer Center economic impact study released

NEW HAVEN, CT - An economic impact study produced by the Connecticut Economic Resource Center (CERC) on Thursday demonstrates that the proposed Yale-New Haven clinical Cancer Center will have more than a $1 billion impact on the Connecticut economy. The study lends additional evidence to the strong economic argument in favor of the Cancer Center's approval.

"Between 2005 and 2012, our study demonstrates that the gross regional product in New Haven will increase by $1.05 billion as a direct result of this Cancer Center's construction," said Jeff Blodgett, vice president of research, CERC. "Personal income would increase by $450 million during the same period of time. It is clear that this project will have a profound impact on the region and the state."

If built on schedule, the Cancer Center will create more than 1,200 new, permanent jobs in the region, including 534 new jobs with an average wage of more than $57,200 by 2011. An additional 350 jobs will be created in other companies in New Haven's service sector as a direct result.

According to the model, development of the Cancer Center will create 2,067 total jobs at its peak in 2008 (including 980 construction jobs) in New Haven County. On average, every new Cancer Center job represents $42,100 in household income for purchases in the area, contributing to further economic activity. The average household would be expected to spend $8,800 on transportation, $7,200 on housing, $4,200 on groceries; $2,400 on eating out; $2,300 on clothing; and $2,200 on entertainment.

"This is a very encouraging report that demonstrates the economic value of this project to the city of New Haven and the entire region," said Tony Rescigno, President of the Greater New Haven Chamber of Commerce. "At a time when we have seen significant job loss in the state and we are threatened with future losses in the defense industry, the need to approve this Cancer Center becomes all the more critical to the economic future of our area."

Beyond the Cancer Center construction, the impact of associated buildings, such as the medical office building on Park Street and the proposed parking garage in the median strip of the former Route 34 corridor, both with mixed use space, would turn vacant land into opportunities for job creation and additional economic activity. The study estimates that these projects will increase the gross regional product by $90.5 million by 2012 and increase personal income by $64.4 million.

CERC is a nonprofit company with a mission of promoting Connecticut as a competitive business location. CERC specializes in economic development, research and marketing for local, regional, and state economic development entities.

Reporters: For more information on this release, contact Vin Petrini, (203) 688-2612.

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