Economic Impact of Fort Meade Grows

Maryland Secretary of Business and Economic Development (DBED) Mike Gill; BGen Mike Hayes USMC (Ret.), Director of DBED's Office of Military Affairs and Maryland State Senator John Astle (D-Dist. 30).Fort George G. Meade (FGGM) generates a total of $22.3 billion in economic activity — 43 percent of the total output of all 15 installations throughout Maryland, according to a new study released by the Maryland Department of Business and Economic Development.

FGGM supports 144,377 jobs and provides more $11.5 billion in wages annually, according to the study that was released during a May 11 meeting of the Maryland Military Installation Council (MMIC) held at the Fort Meade Conference Center.

The economic impact study, conducted by the Regional Economic Studies Institute (RESI) of Towson University, found that military installations accounted for 15 percent of the state’s economic output. The study analyzed fiscal year 2012 data and compared it to a similar study released in 2010 that used FY 2008 data.  The economic impact of the majority of installations grew over the last four years.  Total output increased to $51.8 billion in FY 2012, and increase of more than $16 billion compared to FY 2008. FGGM economic activity increased about $4.5 billion compared to its FY 2008 impact.

Fort Meade is Maryland’s largest employer, and it has the third largest workforce of any Army Installation in the United States.  The Installation is home to 117 government agencies and organizations. FGGM Garrison Commander Col. Brian Foley discussed the installation’s ongoing growth during the MMIC meeting. He said there are currently 13 construction projects under way on the installation. More than 51,000 people work on Fort Meade, and Foley said that continued growth over the next five years will add more than 2,300 jobs. 

View the report online here.

 

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