Annual Navy report shows $13.4 billion impact on Hampton Roads

Posted at 10:10 AM, Nov 19, 2018
and last updated 2018-11-19 16:40:25-05

NORFOLK, Va. - The Navy has released its annual report showing its direct economic impact on the region and the figure has grown.

The report released by Commander, Navy Region Mid-Atlantic showed a direct economic impact of $13.4 billion on Hampton Roads during fiscal year 2017. That covers the range of October 1, 2016 through September 30, 2017.

The impact was an increase of nearly $600 million over the previous fiscal year.

Craig Quigley is the Executive Director of the Hampton Roads Military and Federal Facilities Alliance. He says the report is good news all around for the region.

"I am also very pleased to see that the Navy values the installations that it has here and values the relationships it has with the communities that host them throughout the region," Quigley told News 3 anchor Todd Corillo Monday.

Annual payroll, including military, civilian, and contractors, was up to $11.4 billion from $10.6 billion the previous year.

You can read the entire economic impact report here.