Military spending packs $10 billion punch in Louisiana

Military spending accounts for $9.64 billion in economic activity across Louisiana—from Barksdale to Belle Chasse and Fort Polk to the Marine Forces Reserve in New Orleans, according to a study released by Louisiana Economic Development in time for Veterans Day.

As The News Star reports, every region of Louisiana is impacted economically by the payroll, spending, contracted work and other activity from the military’s presence, says Gov. John Bel Edwards, who is a veteran.

Fork Polk, near Leesville, and Barksdale Air Force Base, near Shreveport-Bossier City, are among the largest installations in the nation. 

LED found the military accounts for 77,000 jobs—one of every 26 jobs in Louisiana—and makes up 2.4% of the state’s gross domestic product, in addition to contributing $349.7 million in local and state taxes.

The Louisiana National Guard contributes more than $536 million in annual spending, and military contract spending in Louisiana has increased in each of the past seven years, which includes contracts for the U.S. Coast Guard. Read the full story.