Investing in Health, Growing Local Communities
Originally published in the CVS Health National Economic Impact Report
With more than 9,000 locations and 300,000 employees, CVS Health is a driving force in the American economy, delivering $474 billion in economic impact nationwide.
As one of the country’s largest private employers, we’re making health care more affordable and accessible for you and your family.
Discover how our economic footprint benefits communities across the U.S: creating jobs, fueling local investments and generating tax revenue that supports schools, emergency services, infrastructure and more.
With 149 locations, CVS Health is bringing high-quality and affordable care to Tennessee communities, improving people’s health and driving economic growth.
$4.2 Billion in Economic Impact
CVS Health’s operations in Tennessee generated an economic impact of $4.2B in FY24. This includes a direct impact of $2.4B, $889.8M indirect and $942.5M induced.
Source: Parker Strategy Group using data from CVS Health in IMPLAN
With multiple locations and prescription delivery services, CVS Health proudly serves patients and communities throughout Tennessee.
Generating $1 Billion in Labor Income
CVS Health generated $1B in total labor income in Tennessee ($440.8M direct, $278.5M indirect and $302.8M induced) in FY24.
Source: Parker Strategy Group using data from CVS Health in IMPLAN
Supporting and Sustaining Jobs
Overall, CVS Health supported 17,087 jobs in Tennessee in FY24 (8,534 direct employees, 4,085 indirect and 4,467 induced).
Source: Parker Strategy Group using data from CVS Health in IMPLAN
Contributing to the Local and State Tax Base
CVS Health supported $299.7M in state and local taxes in Tennessee as a result of operations and capital spending in FY24. State ($158.8M) and local taxes ($140.8M) paid include employment-related, business and consumption-based taxes.
Source: Parker Strategy Group using data from CVS Health in IMPLAN
Giving Back to the Community
- $468,103 in Community Support
- 1,963 Volunteer Hours
Source: CVS Health, 2024 Data
To learn more, Download national report and Explore impact by state
Methodology
The study is a snapshot of economic impact as of December 31, 2024, unless otherwise noted. Data used to complete the economic analysis was provided by CVS Health. Data supplied included operating expenditures, capital spending, pay and benefits, direct taxes paid and total employees. The colleague data used in the analysis of the report represents the sum total of all colleagues who were in the state at any time in 2024. Average number of CVS Health colleagues reflects a point-in-time estimate in 2024. Primary and secondary data was used to complete the input-output models in IMPLAN. Additional jobs include indirect employment created as a result of CVS Health’s economic impact and induced employment as a result of household spending by CVS Health employees and employees of vendors. The CVS Health colleague and location data is as of January 1, 2025. Patient counts are not unique across mail, retail and specialty pharmacy. Numbers in this report are subject to rounding.
