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Navy Releases Annual Economic Impact Report for the Region

Navy Releases Annual Economic Impact Report for the Region

On October 18th, the Navy Region Mid-Atlantic released their annual report of the Navy’s economic impact on the Hampton Roads area. According to the release, the total direct economic impact in fiscal year 2011 (Oct. 1, 2010 through Sept. 30, 2011) was $14.9 billion, up $1.5 billion from 2010. Navy payrolls in Hampton Roads increase from $8,202 million to $8,585 million, while Navy procurement increased from $5,270 million to $6,392 million. Click here to view the complete report.

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