FY24 UP-Economic Impact of CHFS C4383

CHFS administers programs to promote the mental and physical health of Kentuckians and support Kentucky''''''''s families. In addition to this critical role, CHFS also contributes significantly to the economic well-being of Kentuckians through the purchase of local goods and services (e.g., Medicaid payments to healthcare providers) and investments in human capital (e.g., health, education) that increase the ability of our citizens to live productive lives. The direct economic effect of CHFS includes dollars spent in local economies and the increased earnings (and, therefore, spending) of local citizens driven by enhanced human capital. CHFS also creates indirect economic benefits through a “multiplier effect”. That is, local citizens have more spending power because of CHFS investments in local economies. The goal of this study is to quantify the direct and indirect economic benefits of CHFS to local economies, measured at the county level. Our analyses will result in multiple deliverables, including an annual report summarizing our methods, data, and findings, and county-specific findings that can be shared publicly (e.g., website) and updated regularly.