HAMPTON ROADS, Va. (WAVY) — A report says the Navy added $10.75 billion to the Hampton Roads area’s economy in the 2015 fiscal year.
The report was released Wednesday by the commander of Navy Region Mid-Atlantic. It says the Navy’s direct economic impact increased by about $770 million over fiscal year 2014.
Direct economic impact includes salaries, expenditures and contractual payment for services rendered in support of installation activities.
Payroll for military and civilian saw an increase from $8.4 billion to $8.9 billion. Procurement of goods and services saw an increase of nearly $208 million, from $1.46 billion to $1.67 billion.