Military-related activities in Louisiana contributed over $17 billion to the state’s economy in fiscal year 2024, marking a 77% increase since 2021, according to a comprehensive analysis released by Louisiana Economic Development (LED).
The findings underscore the defense sector’s growing influence, supporting more than 117,000 jobs and generating $707 million in state and local tax revenue. Employment in defense-related fields has climbed by 52% since the last assessment, reflecting the expanding presence of military installations, contractors, and associated industries across Louisiana.
“Louisiana is emerging as a leader in the national defense economy,” said Governor Jeff Landry in a statement. “Our shipyards, military bases, and defense firms are fueling innovation, creating employment, and driving economic growth in every region of the state.” He emphasized the administration’s commitment to sustaining this momentum and positioning Louisiana at the forefront of both defense and economic advancement.
The study, conducted by Business Development Advisors and The Roosevelt Group for LED and the Louisiana Military Advisory Council, evaluated the economic contributions of military bases, defense contracts, and spending by retirees and veterans. It also assessed regional impacts across LED’s eight economic zones.
Beyond traditional defense operations, military investment is stimulating growth in advanced manufacturing, aerospace, and technology. Notable recent developments include a U.S. Navy contract awarded to Bollinger Shipyards in Lockport for the construction of six Arctic Security Cutters, and VRC Metal Systems’ establishment of a maintenance facility at Barksdale Air Force Base to service B-52 aircraft, creating high-skilled engineering and technician roles.
“These initiatives follow a record year for defense contracting in Louisiana, with over $3 billion in projects executed by the Department of Defense and Coast Guard in 2024,” said LED Secretary Susan B. Bourgeois. She highlighted the vital contributions of active-duty personnel, contractors, and veterans in sustaining the state’s economic success.
The report also quantified the economic role of Louisiana’s veteran population for the first time, including federal spending and contracts linked to military retirees. With over 26,000 retirees and 260,000 veterans, this group contributes $5.6 billion annually to the state’s economy and supports more than 35,000 jobs.
“As a veteran myself, I recognize the enduring commitment Louisiana’s military families bring to every aspect of civic life,” said Charlton J. Meginley, Secretary of the Louisiana Department of Veterans Affairs. “Their ongoing contributions are a source of pride for all residents.”
— news from New Orleans CityBusiness
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Louisiana military spending surges, generating $17 billion economic impact
Military-related activity in Louisiana generated more than $17 billion in economic output during fiscal year 2024, a 77% increase since 2021, according to a statewide analysis released Monday by Louisiana Economic Development (LED). n nThe report highlights the defense sector’s role in supporting over 117,000 jobs and contributing $707 million in state and local tax revenue. Employment in the sector has risen 52% since the previous study, underlining the expanding economic footprint of military operations, contractors, and associated industries across the state. n n“Louisiana is competing and winning in the defense economy. Our shipyards, bases and defense companies are creating jobs, driving innovation and powering growth in every region of our state,” Gov. Jeff Landry said in a news release. “This administration is focused on building that momentum and keeping Louisiana at the forefront of America’s defense and economic future.” n nThe analysis, conducted by Business Development Advisors and The Roosevelt Group for LED and the Louisiana Military Advisory Council, examined military installations, defense contracts, and retiree and veteran spending. It also evaluates the impact of these activities across LED’s eight economic regions. n nThe study notes that military investment extends beyond traditional defense projects, fostering growth in advanced manufacturing, aerospace, and technology sectors. Recent developments include a U.S. Navy contract awarded to Bollinger Shipyards in Lockport to construct six Arctic Security Cutters, and VRC Metal Systems’ investment in a maintenance facility at Barksdale Air Force Base to support B-52 aircraft, creating engineering and technician jobs. n n“These projects build on a record year of defense contracting in Louisiana, with more than $3 billion in Department of Defense and Coast Guard projects performed in 2024,” LED Secretary Susan B. Bourgeois said. “The men and women who serve, the contractors who support them, and veterans who continue contributing after service all play a vital role in our success.” n nThe report also highlights the economic impact of Louisiana’s veterans, capturing for the first time federal spending and contracts associated with the state’s military retirees and veteran population. More than 26,000 retirees and 260,000 veterans contribute billions annually to local economies, generating $5.6 billion in output and supporting over 35,000 jobs statewide. n n“As someone who has served, I know the deep commitment Louisiana’s veterans and military families carry into every part of their lives,” said Louisiana Department of Veterans Affairs Secretary Charlton J. Meginley. “Their continued impact is something all Louisianans can take pride in.”