A study commissioned by the State of Louisiana shows military spending in the Bayou State has climbed to a more than $9.6 billion annual economic impact.
“Our previous study put it at $7.7 billion, we know it’s a powerful economic force in our state,” said Economic Development Secretary Don Pierson.
The study for the Fiscal Year 2020 says economic activity related to that spending has resulted in more than 77-thousand jobs, or about one out of every 26 jobs in the state, and nearly 350-million-dollars in state and local taxes.
Pierson says the study outlines the economic impact of the state’s various military-related operations including Fort Polk, Barksdale Air Force Base and the Belle Chasse Naval Air Station where thousands are employed at each.
“It’s a story about defending our freedom and protecting our nation, but it’s also a story about the tremendous economic impact in those communities and really statewide,” says Pierson.
Pierson explains why it’s important to keep track of military spending in Louisiana and what the impact is.
“Because the decisions that are made around the Department of Defense funding are not made in New Orleans or Baton Rouge, they’re made in Washington, DC and inside the Pentagon,” said Pierson
State law mandates an in-depth assessment every four years of the military’s impact in Louisiana.
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