Syracuse, NY – A July 2013 Syracuse University Whitman School of Management study reveals that the opening of a new Aspen Dental-branded office generates a significant positive economic impact of more than $1.3 million on a community.
The study analyzed data from a 12-month period, taking the following key factors into account: investment in office construction, furniture and fixtures; jobs created and wages and benefits paid; taxes; and investment in marketing and advertising.
“We’re on track to open 55 new locations in 2013, and are proud that those offices not only benefit patients though access to quality, affordable dental care, but also the local communities in terms of investment and job creation,” said Brian Holtz, director of new office development at Aspen Dental Management, Inc.
Each new office generates an average of ten healthcare professional and office staff jobs in the local community.
“The local economic impact is significant,” said Terry Brown, executive director of the Falcone Center for Entrepreneurship at Syracuse’s Whitman School of Management, who oversaw the research. “In addition to a positive impact of more than $1.3 million on one community alone, we must also recognize the positive qualitative impact of opening a dental practice in underserved communities, including increased access to dental care for citizens and the number of jobs created.”
Study Summary & Abstract
The purpose of this study is to quantify the economic impact that the opening of a new Aspen Dental office has on a community. The study findings are based on data provided by Aspen Dental Management, Inc. (ADMI), a dental service organization that provides non-clinical business support services to nearly 400 Aspen Dental-branded practices in 25 states (at the time of the study in July 2013).
The study analyzed data over a 12-month period to determine the average expense and capital investment for an Aspen Dental office, taking into account a wide range of factors including: wages, benefits and taxes paid to office staff and dentists; construction, furniture, fixtures and other capital costs required to build and furnish a new office; rent, utilities, repairs and office maintenance fees; marketing and advertising costs; and other miscellaneous office expenses.
The study concluded that opening a new Aspen Dental office generates a positive economic impact on a community of $1,343,369.
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