Columbus, Ohio, October 5, 2021 / PRNewswire / – JobsOhio, the state’s private economic development company, today announced the results of the first comprehensive analysis of the economic impact of Ohio military and federal installations.
The analysis shows the generalized and significant impact of Ohio military and federal installations reach all parts of the state. The installations generate 40 billion dollars in gross regional product, 110,900 direct jobs, 269,600 indirect and induced jobs, and represent 6% of Ohio economy representative $ 69 billion in total economic activity.
“Ohio continues to work aggressively to attract advanced missions in aerospace, defense and military Ohio, and these new economic figures underline the incredible extent of this economic sector in our state ”, declared the governor Mike DeWine. “This is our heritage and our strength, and I believe our future will be to lead the nation into the aerospace age of the 21st.st Century.”
JobsOhio created a Federal Military Sector in 2020 to support the many federal installations across the state. The economic impact analysis of more than 20 federal facilities in Ohio provides a better understanding of the scope and impact of the sector across the state. The facilities included in the study were the Department of Defense, the Department of Homeland Security, the Department of Veterans Affairs, and the National Aeronautics and Space Administration. The results are presented in the Ohio 2021 Military and Federal Factbook. The publication highlights Ohio facilities and the overall economic impact that military and federal facilities have statewide and regionally.
“Our mission continues to be to Ohio the most military-friendly state in the country, ”said Lieutenant Governor Jon Husted. “These installations are proof of Ohio national position in our unwavering patriotism and support for the men and women of the military, and their families. “
“Ohio aspires to be the most military and veteran-friendly state in America and creating an enabling environment for federal employees, our military service members, and VA medical professionals is generating an economic ripple through the State, ”said JP Nauseef, President and CEO of JobsOhio. The economic impact analysis shows that these facilities provide a real opportunity to attract new businesses to our state, help our existing businesses grow and provide exciting careers for the people of Ohio. “
The report provides a detailed and in-depth analysis of how military and federal installations provide a solid foundation that fuels the local economy, beyond direct spending. Using REMI PI + econometric forecasting modeling, the study measures the direct, indirect and induced economic effects of Ohio defense industry as well as the effects of trade flows between each of the six regions of the state.
The Northwest region is home to the Joint Systems Manufacturing Center as well as the Ohio National Guard units that train at Camp Perry and are attached to the Toledo Express Air National Guard Base. Defense-related activities and investments have supported around 18,000 direct, indirect and induced jobs and $ 1.8 billion in the regional economic impact, which accounts for 2.62 percent of the region’s economy. Total economic activity is $ 3.3 billion.
The region of 18 counties Northeastern Ohio houses a variety of military facilities, veteran support services, research facilities and functions of the DoD’s “4th Estate”. Military installations include Youngstown Air Reserve Station, Mansfield Lahm Air National Guard Base, and Camp Garfield. Veterans support services include the Louis Stokes Cleveland VA Medical Center. Research facilities include those at NASA’s Glenn Research Center, while DoD’s defense finance accounting services are located at Cleveland. Defense-related activities and investments supported around 108,500 direct, indirect and induced jobs and $ 10.6 billion in the regional economic impact, which accounts for about 4.5 percent of the region’s economy. Total economic activity is $ 18.3 billion.
The Center region Franklin County houses the Ohio National Guard Headquarters, Rickenbacker Air National Guard Base, Defense-Columbus Financial Accounting Department, Defense Information System Agency, land and sea defense logistics and the Columbus VA ambulatory center. The region is also home to the Air Force Meteorology and Calibration and Boeing Guidance Repair Center, both in lick the county. Defense-related activities and investments have supported around 75,900 direct, indirect and induced jobs and $ 7.6 billion in the regional economic impact, which accounts for 5.6 percent of the region’s economy. Total economic activity is $ 12.9 billion.
The Southwest region is home to the Cincinnati Veterans Medical Center, the United States Army Great Lakes Corps of Engineers (USACE), and the Blue Ash Air National Guard station. Defense-related activities and investments supported around 58,600 direct, indirect and induced jobs and $ 6.7 billion in the regional economic impact, which accounts for 5.72 percent of the region’s economy. Total economic activity is $ 12.3 billion.
The Southeast region is home to Chillicothe VA Medical Center, Zanesville Air National Guard Base, and Camp Sherman Joint Training Center. Defense-related activities and expenditures supported around 16,300 direct, indirect and induced jobs and generated $ 1.6 billion in regional economic impact, which represents 3.16% of the region’s economy. Total economic activity is $ 2.8 billion.
The Western Region is home to Wright-Patterson Air Force Base, Dayton Veterans Medical Center, and Springfield-Beckley Air National Guard Base. Defense-related activities and investments have supported around 103,200 direct, indirect and induced jobs and $ 11.6 billion in the regional economic impact, which accounts for 17.12 percent of the region’s economy. Total economic activity is $ 19.4 billion.
For more details :
Ohio Jobs is a private, not-for-profit economic development corporation designed to stimulate job creation and new capital investment in Ohio by attracting, retaining and expanding businesses. The organization also strives to initiate the production of talent in its targeted industries and attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Southeast Ohio Economic Development, A columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Find out more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.
View original content to download multimedia: https://www.prnewswire.com/news-releases/ohios-military-and-federal-spending-generate-40-billion-in-economic-impact-and-represent-69 -billion-total-economic-activity-301393466.html