What the US Military Spends in Indiana

The U.S. navy price range is the most important on the earth, and by a large margin. The Biden administration not too long ago submitted a protection price range of $773 billion for fiscal 2023 – which is greater than the mixed budgets of the subsequent 10 highest-spending international locations mixed.

Whereas the dimensions of the protection price range, and precisely how and the place all that cash needs to be spent, might be an everlasting supply of political controversy, the protection spending is a boon for native economies throughout the USA.

Based on a latest report, the Division of Protection spent $593.9 billion on contracting and personnel within the 50 states and D.C. in fiscal 2020. This cash went to protection contractors that manufacture plane, ships, and weapons, along with service suppliers, analysis and improvement, in addition to wages for active-duty service members, civilians, and reservists.

This spending, in fact, will not be unfold evenly, and states which can be dwelling to giant navy bases and contractor operations obtain extra funds than states the place the navy and protection business have a smaller footprint.

The DoD spent a reported $5.4 billion in Indiana in fiscal 2020, or about 0.9% of its whole home spending, the twenty fourth lowest share among the many 50 states. Of that cash, payroll accounted for about 26% whereas about 74% went to contractors.

The general financial impression of protection spending within the state is decrease than common, as annual navy spending is the same as about 1.4% of Indiana’s general GDP, in comparison with the two.8% nationwide common. On a per capita foundation, protection spending in Indiana is the same as about $802 per particular person, the 14th least amongst states.

All information on this story is from the Division of Protection report Protection Spending By State Fiscal 12 months 2020.