The Economic Impact of South Carolina's Military Bases
Business and Economic Review › Vol. 51 Nbr. 1, October 2004
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Summary
The many military installations dispersed across South Carolina account for a substantial segment of the overall South Carolina economy. The ultimate impacts on the state and local economies don't stop with direct expenditures. Once an initial injection of funds occurs in the local economy, additional rounds of economic activity are supported by economic multiplier effects. By including these multiplier impacts, the true significance of military base operations to the state and local economies becomes clear. Further, the role of a military base in the local economy is somewhat unique in that the funding for the operations comes from the federal government. While some of this federal funding is the return of South Carolina tax dollars, much of the money used to support the military represents a true net addition to the South Carolina economy. In this way, the impacts of the military add to the economy as opposed to simply redistributing existing funds.
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The Economic Impact of South Carolina's Military Bases
The many military installations dispersed across South CaroliΠ na account for a substantial segment of the overall South Carolina economy. Bases around the state fuel economic activity by purchasing goods and services from the local community and providing income to m...
See the full content of this document
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