In a recent economic impact analysis, Minot Air Force Base (AFB) in North Dakota has demonstrated its substantial contribution to the local and regional economy during Fiscal Year (FY) 2023. The base’s total economic contribution was an impressive $621.6 million, marking a $26.6 million increase from the previous fiscal year, which recorded a contribution of $595 million. Minot AFB significantly contributes to national defence and the economic stability of its surrounding region, underscoring its essential role.
Personnel Powerhouse: Over 11K Linked to Minot AFB
Minot Air Force Base hosts 11,827 individuals, encompassing a significant personnel presence directly linked to the base’s operations and activities. This group includes 5,413 military personnel (5,391 active-duty members and 22 Air Force Reserve members), 5,416 family members of these service personnel, and 998 civilians employed by the base. The local economy is significantly influenced by 3,592 military members and 2,787 family members residing off-base.
Financial Force and Job Creation Engine
The financial implications of Minot AFB’s operations are substantial, with an annual payroll amounting to $420.3 million. Additionally, the base’s annual expenditures on construction, services, and materials total $84.2 million. These figures reflect the base’s role as a major economic driver in the region.
A crucial aspect of the base’s economic impact is its role in indirect job creation. Minot AFB is responsible for creating 1,995 indirect jobs, with an estimated annual value of $117,018,720. This translates to an average pay of $58,656 per job, indicating the quality of employment opportunities generated. This aspect of the base’s impact extends beyond its direct operations, fostering broader economic growth and stability in the community.
Minot AFB’s $3 Billion Economic Legacy: Retirees & Annual Contributions
Additionally, the economic influence of Minot AFB extends to the retired military personnel residing in the Minot area. There are 1,492 retirees in the vicinity, contributing a gross payroll of $40.6 million to the local economy. The base’s influence underscores the enduring bond between the military and the region, persisting beyond active duty service.
Over the past five years, the total contribution of Minot AFB to the economy has exceeded $3 billion. The yearly contributions have varied, with FY 2019 at $559.3 million, FY 2020 at $622.4 million, FY 2021 at $606.8 million, FY 2022 at $595 million, and FY 2023 at $621.6 million. This trend reflects the base’s growing influence on the local economy.
The economic impact analysis of Minot Air Force Base for FY 2023 reveals its role as an economic powerhouse in the region. Its impact ranges from employing and compensating workers to indirectly fostering jobs and aiding retired military personnel vital for local economies.
