Tue February 14, 2012
CVS-Caremark contributes more than $1B to state GDP
By CATHERINE WELCH
PROVIDENCE, RI – Woonsocket-based CVS-Caremark says it's contributed more than a billion dollars to Rhode Island's Gross Domestic Product in 2010.
The PricewaterhouseCoopers economic impact study looked at how much CVS-Caremark contributed to the market value of all goods and services produced in Rhode Island. It found that the pharmaceutical giant contributed more than $1.2 billion to Rhode Island's GDP.
That number includes $831 million in paychecks and $116 million in state and local taxes. CVS-Caremark operates a customer support center, finance and marketing centers, and two distribution facilities in the state.
It's headquartered in Woonsocket. And the study points out that CVS-Caremark contributed to the hospitality industry by attracting some 54,000 vendors and suppliers.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. firstname.lastname@example.org.