Minot Air Force Base economic impact drops to $580M
MINOT, N.D. (AP) — Minot Air Force Base contributed more than half a billion dollars to the local economy last year, but the base’s economic impact dropped slightly from 2016.
Maj. Douglas Bauer presented the annual economic impact analysis report to the Minot Area Chamber of Commerce’s Military Affairs Committee this month, the Minot Daily News reported. Bauer said the report shows the base’s economic impact on the area relating to payroll, purchases and jobs created.
The base’s economic impact for fiscal year 2017 totaled $580.4 million, which is slightly under the $591.5 million in 2016.
For several years, the economic impact has remained at more than half a billion dollars.
“The overall trend is fairly consistent,” Bauer said.
Bauer said the decrease in construction projects is a key factor to the drop, which was offset by an increase in procurements, including health care and educational services. Construction expenditures amounted to $46.4 million in fiscal year 2017, compared to $64.4 million the previous year.
Medical claims paid to area medical facilities totaled to more than $11.8 million.
“Many dollars are spent in the Minot community to keep the base running,” said Bauer.
Indirect jobs in the Minot area amounted to 2,063 in fiscal year 2018, which shows how the base’s money affects the local economy.
“The bottom line is Minot Air Force Base will continue to have a positive impact on the city of Minot and surrounding communities in FY18 and beyond,” Bauer said.
Information from: Minot Daily News, http://www.minotdailynews.com