By Greg Grootendorst, Chief Economist
The Office of Economic Adjustment recently released a report on Defense Spending by State for FY 2014. According to the report, in FY 2014 the Department of Defense (DoD) spent $418 billion on payroll and contracts in the United States, or approximately 2.4% of the U.S. GDP. DoD expenditures vary significantly from state to state, with Virginia capturing the top spot for both the total amount of DoD expenditures, and the highest percentage of state GDP attributed to DoD spending. Virginia’s profile of DoD spending is included in the accompanying page. The complete report can be accessed at:
http://www.defense.gov/News/News-Releases/News-Release-View/Article/620776/dod-releases-fiscal-year-2014-defense-spending-by-state-report?source=GovDelivery
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