WATERTOWN, NY, March 4, 2015 – Fort Drum’s annual economic impact statement, released earlier this month, reported that $1.3 billion was spent in the three-county region in 2014.
However, that spending generated substantial additional economic activity in the region, for a total economic impact of $1.8 billion. In addition to the 21,068 military and civilian personnel directly employed at Fort Drum in 2014, Fort Drum spending last year supported an additional 6,195 jobs in the general regional economy. “Those are jobs not on Fort Drum, but that exist off-post because of Fort Drum”, noted Carl A. McLaughlin, executive director of the Fort Drum Regional Liaison Organization (FDRLO).
Those figures are according to the estimates from an economic impact model developed for the FDRLO. “Fort Drum’s annual report accounts for direct spending only”, Mr. McLaughlin added. “In order to understand the full economic impact of that spending on the three-county region, we plug their numbers into a model developed for that purpose.”
FDRLO’s economic impact model was developed by the Economic Development Research Group from Boston, MA. The model is maintained for FDRLO by the Jefferson County Planning Department. Mr. McLaughlin stated “When Fort Drum’s direct expenditures are entered into the model, it takes into consideration that different categories of spending reported by Fort Drum have different multiplier effects in the local economy”. Those impacts include the off-post jobs and business income stimulated by Fort Drum’s spending, and the re-spending of that income on consumer purchases and additional business sales in the region.
Although Fort Drum’s total spending went down slightly in 2014, the model continues to demonstrate the impressive scope of the indirect economic and employment benefits in the region.
FROM: Fort Drum Regional Liaison Organization
CONTACT: Carl McLaughlin, Executive Director
Phone: (315) 836-1530