MD military facilities generate $51B for state economy
The Maryland Department of Business and Economic Development (DBED) recently tasked the Regional Economic Studies Institute (RESI) of Towson University with determining the economic impact of the state’s military installations. The results were announced yesterday by DBED Secretary Mike Gill at the Maryland Military Installation Council meeting.
RESI estimates that Maryland’s military installations generated $51.8 billion and supported 350,411 jobs during fiscal year 2012. Additionally, thousands of visitors to the facilities spent more than $123.3 million.
Fifteen Maryland military facilities were analyzed during the study, including:
- Joint Base Andrews
- Aberdeen Proving Ground
- Fort Detrick
- Fort George G. Meade
- National Maritime Intelligence Center
- Naval Support Activity—Bethesda
- Patuxent River Naval Air Station
- Curtis Bay Coast Guard Yard
- Maryland National Guard
- Naval Research Lab—Chesapeake Bay
- Naval Support Activity—Annapolis
- Naval Support Warfare Center—Carderock
- Naval Support Warfare Center—Indian Head
- Army Research Laboratory—Adelphi
- Army Corps of Engineers—Baltimore
The FY2012 results show a significant increase since the FY2008 results, generating 264,000 jobs and $35.5 billion in economic impact.
Read the full Maryland Military Installation Economic Impact Study on our website.