MILITARY’S ECONOMIC IMPACT IN LOUISIANA TOTALS $7.7 BILLION
Economic study touts military’s role as significant employer in state, accounting for 77,000 jobs
Military-related spending in Louisiana accounts for $7.7 billion in annual economic output – a significant impact affecting every region of the state, according to a study just completed for the State of Louisiana. Economic activity associated with that spending provides more than 77,000 jobs and pays almost $280 million in state and local taxes, the study found.
In terms of payroll employment, the military accounts for 4 percent of Louisiana jobs – one out of every 25 jobs in the state. Employment related to the military in Louisiana includes 53,000 direct jobs at military facilities and properties and connected to military contract work and spending by military retirees. The state’s military employment also includes 24,000 indirect and induced jobs, according to report co-author Dr. Martin Romitti.
Read more about the announcement.