By Greg Grootendorst, Chief Economist
On September 15, 2011 the Commander, Navy Region Mid-Atlantic released the economic impact report for the Hampton Roads area. According to the release, the Navy had a direct economic impact of $13.5 billion in 2010, down $1.4 billion from 2009. Total active duty Navy employment was 82궯, approximately 80% of the region’s active duty military. The Navy had 84 ships homeported in Hampton Roads and 36 aircraft squadrons. The Navy’s annual payroll (military and civilian) was $8.2 billion and Navy procurement was $5.3 billion.
Get a complete copy of the report, HERE.