Navy Releases New Economic Impact Report for the Hampton Roads Area

 Navy Releases New Economic Impact Report for the Hampton Roads Area

On September 15, the Navy Region Mid-Atlantic Public Affairs Office released the fiscal year 2010 (Oct. 1, 2009 through Sept. 30, 2010) Department of the Navy’s impact statistical data for the Hampton Roads area.  According to the data, the total direct economic impact to the region decreased approximately $1.4 billion, from $14.9 billion in fiscal year 2009 to $13.5 billion in fiscal year 2010.  The total annual payroll for military and civilian employees remained steady at $8.2 billion.  However, procurement expenditures decreased from approximately $6.7 billion in fiscal year 2009 to $5.3 billion in fiscal year 2010. Operationally, the number of ships homeported in Hampton Roads increased from 83 to 84, and the number of aircraft squadrons also increased by one from 35 to 36.

View the report here.

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