Beaufort area military impact reaches $2.2 billion annually
A recent study says the military presence in Beaufort County accounts for about $2.2 billion in annual economic impact.
The South Carolina Military Base Task Force released the study, which says that figure is supported by 19,240 jobs and $993.8 million in generated labor income.
The study was prepared by Joey Von Nessen of the Darla Moore School of Business at the University of South Carolina.
Marine Corps Air Station Beaufort accounts for $787 million in economic activity annually, the study said. Marine Corps Recruit Depot Parris Island accounts for $739.8 million and Naval Hospital Beaufort accounts for $217.4 million.
“The significance of the military in Beaufort and Port Royal cannot be overstated,” the release stated. “We are forever grateful for the service and economic engine of military men and women at our local bases and for both the Navy and Marine Corps’ continued engagement in our community.”
The South Carolina military community collectively creates an economic impact of $24.1 billion, the study said.
The state is home to eight major military installations and other facilities, supporting 62,520 in Department of Defense personnel with $2.6 billion in payroll.
The study reports that the military community represents 8.4 percent of the South Carolina economy with 181,847 jobs, or one of every 12 in the state. The average compensation for jobs supported by the military community is $54,701, 37 percent higher than the average job.
“As the study indicates, our local installations are vital to not only our national defense but our state and local economies as well,” Military Enhancement Committee chairman Jim Wegmann said.
“The Military Enhancement Committee remains vigilant in their defense of our three military installations and dedicated to improving the quality and value of Beaufort’s installations.”
The full text of the report is available at www.scmilitarybases.com.