A new study shows Maryland’s military facilities have a major impact on the state’s economy.
The Maryland Department of Business and Economic Development (DBED) recently tasked thebvRegional Economic Studies Institute (RESI) of Towson University with determining the economic impact of the state’s military installations. The results were announced yesterday by DBED Secretary Mike Gill at the Maryland Military Installation Council meeting.
RESI estimates that Maryland’s military installations generated $51.8 billion and supported 350,411 jobs during fiscal year 2012. Additionally, thousands of visitors to the facilities spent more than $123.3 million.
Fifteen Maryland military facilities were analyzed during the study, including: