military economic impact
In a study prepared for Louisiana Economic Development, by Business Development Advisors (BDA), results showed that military-related spending in Louisiana creates $9.64 billion in annual economic impact across all regions of the state, according to a study commissioned by the State of Louisiana. Economic activity associated with that spending results in more than 77,000 jobs and pays $348.7 million in state and local taxes.
In terms of payroll employment, the military accounts for 3.75 percent of Louisiana jobs – about one out of every 26 jobs in the state. The economic impact of military spending in Louisiana makes up 2.4 percent of the state’s gross domestic product. The $9.64 billion total represents a 25 percent increase in statewide economic impact in the four years since the last such study, which calculated the impact of military-related spending in Louisiana to be $7.7 billion for the 2016 fiscal year.
For a copy of the Military Economic Impact Analysis, please contact us.