SDMAC_Military_Economic_Impact_Report_MEIR2021

FESCH.TV INFORMIERT:

The enormous economic impact of San Diego’s stalwart military and defense communities is undeniable. While many sectors of the San Diego economy contracted in 2021, direct defense spending rose to $35.3 billion — a 5.3% increase over Fiscal Year 2020. The number of jobs supported by these sectors rose by 2% to 349,112. That’s a whopping 25% of San Diego’s Gross Regional Product (GRP), a driver that allowed San Diego to remain economically resilient even in the throes of the global COVID-19 pandemic.

San Diego historically flourishes thanks to several key industry sectors — tech, travel, tourism, and defense — but only the defense sector has demonstrated dependable resilience through historic recessions — (including the tumultuous ebb-and-flow of this past year’s pandemic closures).

$35.3 billion in military and defense funds flow into the San Diego economy through a multitude of avenues: compensation and benefits to military personnel; compensation and benefits to federal civilian employees; retirement and Veteran benefits; government purchase cards used for direct spending; and defense contracts to more than 1,700 local businesses.

The strength of our local community, supported and intertwined with the steadfast efforts and operations of local military personnel and businesses is integral to San Diego’s continued growth, healthy, innovative outlook and ability to successfully weather a period of tremendous economic uncertainty.

Enjoy this video of the SDMAC – UC San Diego RADY School of Management Military Economic Impact Report (MEIR) rollout as we celebrate the contributions of all whose work kept — and continues to propel — San Diego’s economy on an even keel going forward.

See the full MEIR by visiting …
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–Source: San Diego Military Economic Impact Report (2021)
San Diego Military Advisory Council (SDMAC) and
University of San Diego (UCSD) RADY School of Management

Note: While celebrating the $55.2 Billion *total* regional economic impact this report highlights for the San Diego community, the 501(c)3 non-profit SDMAC Foundation would like to ask your help in acknowledging the work of our homecoming heroes — *transitioning* military and veterans — by considering a donation in support of a career changing scholarships in the STEM trades, apprenticeships and trade careers.

It’s a way to serve those who’ve served — and it’s a tour of civilian duty for which you’ll always be proud. -Terri Steele