2015-12-03 / News Briefs

Navy Provides $1.32 Billion to Local Economy

The presence of the U.S. Navy in Newport has generated an estimated $1.32 billion in economic impact to the area, a 25 percent increase over the previous year’s impact.

Figures were finalized for the fiscal year ending Sept. 30, 2014.

A 24-page report compiled by the Navy Region Mid-Atlantic released in November measures the capital “infused into the local economies as a result of salaries, expenditures and contractual payments for services rendered in support” of Navy bases.

The report included the impact area for each of the region’s 15 Navy installations, “including all counties and cities encompassing a 40-mile radius from the center installation.”

Impact increased from $1.06 billion the previous year, due mainly to significant hiring practices in civilian payroll, according to the Naval Undersea Warfare Center.

Spokespersons from the NUWC said in statements to several media outlets that payrolls are higher now than they were a year ago and economic impact should be even greater in 2015, given an array of community projects, volunteers, international students, technology trained personnel and other employees beyond military personnel.

Civilian payroll was $591,000 last year while total annual payroll exceeded $1 million.

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