Utah’s Military and Defense Industry: A Major Economic Driver
The Utah Department of Veterans and Military Affairs (UDVMA) is excited to share the findings of a comprehensive economic impact study recently conducted by the Kem C. Gardner Policy Institute at the University of Utah. This research, commissioned by UDVMA and the Utah Defense Alliance, sheds light on the significant contributions of Utah's military and defense industry to our state's vibrant economy. The study provides valuable insights into the industry's role in job creation, income generation, and overall economic growth. Let’s look at some of the key findings.
The study reveals the substantial economic footprint of the defense industry in Utah during Fiscal Year (FY) 2023, with key highlights including:
These impressive figures demonstrate the vital role the military and defense sector plays in supporting Utah's economic well-being, contributing significantly to the state's financial stability and providing valuable resources for essential public services and programs. This substantial economic activity also strengthens communities across Utah by generating job opportunities and stimulating local economies.
The study analyzed the contributions of several key defense entities in Utah, including:
This study emphasizes the importance of sustained investment in Utah's military and defense sector to ensure continued economic growth, job creation, and a strong national defense presence. The UDVMA is committed to collaborating with partners to foster a supportive environment for this crucial sector. This report provides a valuable benchmark for understanding the defense industry’s economic contributions to Utah and will serve as a key resource for policymakers, community leaders, and stakeholders in supporting our military community.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
