Navy adds more than $10.5B to Hampton Roads economy, report says

NORFOLK (Oct. 7, 2016) Sailors move supplies aboard the amphibious assault ship USS Iwo Jima (LHD 7) during an onload of more than 500 Marines from the 24th Marine Expeditionary Unit (24th MEU) and nearly 300 pallets of supplies. Iwo Jima is moored pierside at Naval Station Norfolk awaiting further tasking as Hurricane Matthew develops. (U.S. Navy photo by Petty Officer 3rd Class Jess E. Toner/Released)

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.