See How Military Activities Can Benefit Local Economies
The state of Texas Comptroller’s office has introduced a new web portal at TheTexasEconomy.org/military to highlight the numerous ways that state and local communities support military activities and how these same activities encourage economic development and innovation. Texas ranks second in the nation for its active duty and military retiree populations and estimates the economic impact of the state’s military installations at nearly $150 billion annually. The web portal will provide additional information about these statistics as well as other military news and trends.
While the boost to the Texas economy through military activities is especially sizable, other states in the country also evidence substantial economic impact:
- California as a whole and, in particular, San Diego, report multi-billion dollar amounts in direct spending as well as double-digit employment percentages.
- South Carolina’s Department of Commerce Research Division analyzed data from 2010-2011 and estimated that their state’s military community accounted for nearly $16 billion in economic activity and nearly 140,000 jobs.
- In Virginia’s Hampton Roads area, their Economic Impact study cites the diverse extent of DoD impact to include military personnel, DoD civilian employment, ship building and repair industries as well as a large veterans population.
- Louisiana’s 2012 economic impact analysis also reported several billion dollars in defense spending and over 80,000 military jobs contributed to their state’s economy.
For more information about how your area is benefiting from our nation’s military presence, visit your state’s Office of Comptroller’s website today.