JOINT BASE LANGLEY-EUSTIS, Va. –
The Joint Base Langley-Eustis fiscal year 2020 Economic Impact Analysis (EIA) was released by the 633rd Comptroller Squadron, citing an increase of $485 million in impact to the community since 2018.
In the FY20 analysis, according to the Bureau of Economic Analysis and the Bureau of Labor Statistics, JBLE’s economic impact to the Hampton Roads area totaled $3.392 billion, up from $2.907 billion in 2018.
In the biannual report, BEA and BLS reported that JBLE creates nearly 37 thousand indirect jobs in Hampton Roads.
The EIA is a valuable decision support tool for senior leadership as well as local and state officials to illustrate the impact the military installation has on the community; representing an estimate of the amount of money it puts into the local economy.
Data are collected from the respective units and mission partners to compile and create the report, and direct stimulus is measured by the magnitude of military and civilian payroll for JBLE. Indirect stimulus is gauged using the product of pre-determined economic stimulus multipliers and the average income of the Hampton Roads area. Together, indirect and direct stimuli are combined to create an estimate of the impact of JBLE on the surrounding area for fiscal year 2020.
“Team JBLE continues to be a driving force in our community,” said Lt. Col. Charles Dunar, 633rd CPTS commander. “The 30 plus mission partners and our over 20 thousand personnel continue to project global reach and we couldn’t make that possible without the tremendous support from the Hampton Roads community. We’re deeply thankful for their continued support.”
For more on the FY20 EIA, click here.