Study says military impact on local economy exceeds $1.2 billion
Local military impact exceeds $1.2 billion
According to a recent study by Dr. Donald Schunk of Coastal Carolina University, the economic impact of the military installations in Beaufort County for 2009 was more than $1.2 billion.
“Military is a leading contributor to our economy,” stated Jimmy Boozer, chair of the Beaufort Regional Chamber of Commerce Visitor and Convention Bureau which commissioned the study titled, The Economic Impacts of the Military in Beaufort County, South Carolina.” “The three bases offer stable, high-paying jobs that have helped stabilized our economy in this economic downturn.”
Currently, the Marine Corps Air Station (MCAS) has the greatest economic impact in Beaufort at $615 million. The facility employs more than 8,600 people and has a labor income of more than $332 million.
“The Marine Corps Air Station’s impact will increase with the new F-35 and provide a ‘hook’ for our economic development strategy,” stated Brad Samuel, chair of the Chamber’s Military Affairs Committee.
The Marine Corps Recruit Depot has an economic impact of $537 million and employs more than 6,000 people. The report estimates an additional impact of $11 million from military related tourism, including families visiting for graduations. The tourism impact creates about 200 jobs.
The Naval Hospital Beaufort has an economic impact of $81 million with a labor income of more than $35 million.
The report also includes statistics which show retired military impacts the economy to the tune of $75 million, supporting 900 jobs and nearly $25 million in labor income.
Dr. Donald Schunk of Coastal Carolina University did the study using FY2009 data from the military installations. This study is an update of the Beaufort County section to a 2004 statewide study Dr. Schunk executed for the SC Military Task Force.
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