The work on the new Congress and Main building in St. Albans has grabbed the attention of many in our community. It is an exciting collaboration that comes at a time when NMC is paying close attention to our budget to ensure that we remain the strong, vibrant organization we have always been.
These two factors: investment in expanding a nursing program into a new building and expense reductions in our budget may seem to be at odds. In reality, investing in Congress and Main will help us save money in the long run, and brings many other benefits as well.
Like hospitals all over Vermont and the nation, NMC is experiencing a shortage of nurses. The struggle to recruit and retain nurses costs our organization a great deal every single year in time and money. The nursing program to be located in the Congress and Main building will help increase the number of nurses available for Vermont healthcare organizations. NMC is funding scholarships for some of the nurses in the program, with the intent that those students start their careers at our organization. Helping fill the void in this profession will have profound impacts on our community including for local students seeking to start a rewarding career.
Specifically, for NMC, we estimate that the Congress & Main collaboration will save us approximately $300,000 a year in turnover nursing costs thanks to this expanded nursing school. That more than covers NMC’s investment in the building per year over the next 14 years.
We see this as a key investment in the community and in our own future, an example of the long-term thinking that keeps us strong.