7th Annual SDMAC Military Economic Impact Study
San Diego, CA - Today the San Diego Military Advisory Council (SDMAC) unveiled its 7th Annual SDMAC Military Economic Impact Study (SDMAC MEIS) at a press conference and luncheon at the Admiral Kidd Club located on Naval Base Point Loma.
The annual study, commissioned by SDMAC and produced by the Fermanian Business and Economic Institute at Point Loma Nazarene University, solidifies the significant and tremendous impact the defense and military communities bring to the entire San Diego region - and the continuous threats of political gridlock and imposed budget caps.
For more than 10 years the San Diego Military Advisory Council has provided the region and our nation's military leaders the opportunity to understand just how vital the military and defense sectors are to our region," said Paul Cassani, 2015 president for the organization. "The impact represents billions of dollars in direct spending - and hundreds of thousands of jobs right here in San Diego. We must never take this for granted."
City of San Diego Mayor Kevin Faulconer, Rear Admiral Markham Rich USN, Commander, Navy Region Southwest, and Brigadier General Edward Banta USMC, Commanding General Marine Corps Installations-West and MCB Camp Pendleton participated in the press conference.
California State Speaker Toni Atkins served as the keynote speaker for the roll-out's sold-out luncheon.
Highlights of the report concluded:
An estimated total of $24.8 billion in direct spending related to defense was sent to San Diego County during fiscal year 2015, an amount equal to about $7,700 for each of the county's residents.
Defense-related activities and spending will generate an estimated $45.0 billion of gross regional product (GRP) for San Diego County in fiscal 2015. This represents
21.5 percent of the region's total GRP - an increase from last year's totals of $38.7 billion/20 percent, respectively.
The military sector is responsible for about 328,000, or 22 percent, of the region's total jobs in 2015 after accounting for all of the ripple effects of defense spending - an increase from last year's 317,000 jobs.
Income generated as a result of all of the direct and multiplier effects of military- linked spending will amount to an estimated $22.7 billion in fiscal year 2015.
In fiscal year 2015, the 49 U.S. Navy ships home ported in San Diego will see direct spending of about $2.6 billion that will equate to a total economic impact of $5.7 billion in GRP. The two aircraft carriers based here will bring a combined $1.5 billion to the economy based on updated inputs, multipliers, and models San Diego's home-ported ship count is projected to climb to a total of 84 by calendar year 2023.
With upcoming elections, ongoing political gridlock, budget caps imposed by the Budget Control Act (BCA), the likelihood of a Continuing Resolution, and the possible return of sequestration, trends for fiscal year 2016 appear more uncertain than they ever have been and will be tested against San Diego's role in implementing the nation's military strategy and defense dollars tied to the region.
SDMAC appreciates the support of SeaWorld San Diego for sponsoring the press conference. As longtime supporters of San Diego's military community, SeaWorld's 'Waves of Honor' program permits any U.S. active duty military, activated or drilling reservist, or National Guardsman to one complimentary admission per year for military personnel and as many as three direct dependents.
SDMAC also appreciates the support of Bank of America Merrill Lynch for their sponsorship of the 7th Annual SDMAC Military Economic Impact Study. Merrill Lynch is a private wealth management division of Bank of America.
to watch the presentation video on YouTube.
to download a .pdf copy of the Executive Summary of the 7th Annual
SDMAC Military Economic Impact Study.
Special SDMAC Economic Studies
SPAWAR Economic Impact Study - April 2014
In April 2014, SDMAC presented the SDMAC SPAWAR Economic Impact Study - a special
study to document the unique economic and socioeconomic impact of SPAWAR Headquarters
and SPAWAR Systems Center, Pacific on the San Diego region.
to download a .pdf copy of the Executive Summary of the SDMAC SPAWAR
Economic Impact Study.
Navy Broadway Complex Redevelopment Project
SDMAC has been an active and vigorous supporter of the Navy Broadway Complex Redevelopment
Project. In 2011 and in collaboration with the Fermanian Business and Economic Institute
of Point Loma Nazarene University, SDMAC produced an Economic Impact Study that
reliably predicts sizable economic gains during the 2012-2025 timeframe for an annual
average 5,300 jobs, $274 million income, and $653 million total output in 2011 dollars.
SDMAC organized and presented a press briefing on October 28, 2011 providing details
of the economic impact.
to download a .pdf copy of the SDMAC Executive Summary of the Navy
Broadway Complex Redevelopment Project.