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Military-related spending generated more than $17 billion in total economic activity across Louisiana during fiscal year 2024, according to a statewide analysis released Wednesday by Louisiana Economic Development.
The report shows a significant expansion of the state’s defense sector since the previous study four years ago, underscoring the military’s growing impact on jobs, investment and community development.
Since 2021, total military-related output has increased by 77%, while employment tied to defense activity has risen by 52%, supporting more than 117,000 jobs and generating $707 million in state and local tax revenues.
“Louisiana is competing and winning in the defense economy,” Gov. Jeff Landry said in a prepared statement. “Our shipyards, bases and defense companies are creating jobs, driving innovation and powering growth in every region of our state. This administration is focused on building that momentum and keeping Louisiana at the forefront of America’s defense and economic future.”
The analysis—conducted by Business Development Advisors and The Roosevelt Group for LED and the Louisiana Military Advisory Council—examined military installations, defense contracts, and retiree and veteran spending to measure the military’s overall economic footprint across the agency’s eight defined regions.
Beyond statewide totals, the report highlights how defense-related industries continue to attract investment and support innovation across sectors, including advanced manufacturing, aerospace and technology.
Recent developments reinforce the report’s findings. Bollinger Shipyards was awarded a major U.S. Navy contract to build six Arctic Security Cutters at its Lockport facilities. At Barksdale Air Force Base, VRC Metal Systems is investing in a new maintenance facility to provide advanced repair capabilities for B-52 aircraft, creating high-skilled engineering and technician jobs. Together, the projects contributed to a record year for defense contracting, with more than $3 billion in Department of Defense and Coast Guard projects performed in 2024.
Earlier this year, Bascom Hunter, an advanced technical solutions provider for the aerospace and defense industry, announced it is expanding its Baton Rouge operations with a new fabrication facility aimed at enhancing manufacturing and testing capabilities.
The report also expanded its scope to include federal spending and contract activity related to veterans, capturing for the first time their full economic impact. More than 26,000 military retirees and 260,000 veterans living in Louisiana contribute billions annually to local economies. Combined, veteran expenditures and Louisiana Department of Veterans Affairs contracts generated $5.6 billion in output and supported more than 35,000 jobs statewide, according to the analysis.