Originally published in the CVS Health National Economic Impact Report
WOONSOCKET, RI / ACCESS Newswire / May 15, 2026 / 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 84 locations, CVS Health is bringing high-quality and affordable care to Rhode Island communities, improving people's health and driving economic growth.
$3.4B in annual economic impact
CVS Health's operations in Rhode Island generated an economic impact of $3.4B in FY24. This includes a direct impact of $1.5B, $564.9M indirect and $1.3B 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 Rhode Island.
Supporting and Sustaining Jobs
Overall, CVS Health supported 17,925 jobs in Rhode Island in FY24 (9,047 direct employees, 2,594 indirect and 6,284 induced).
Source: Parker Strategy Group using data from CVS Health in IMPLAN
Generating $1.4 Billion in Labor Income
CVS Health generated $1.4B in total labor income in Rhode Island ($834.6M direct, $176.8M indirect and $425.9M induced) in FY24.
Giving Back to the Community
$3.3 Million in Community Support
5,383 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.
Find more stories and multimedia from CVS Health at 3blmedia.com.
Contact Info:
Spokesperson: CVS Health
Website: https://www.3blmedia.com/profiles/cvs-health
Email: info@3blmedia.com
SOURCE: CVS Health
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/cvs-health%e2%80%99s-annual-impact-in-rhode-island-1167345
