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Fort Hood's Economic Impact Soars to 22% Increase

Wednesday, October 7, 2020   /   by Scott Shine

Fort Hood's Economic Impact Soars to 22% Increase

FORT HOOD — Fort Hood experienced an increase in economic activity in 2019, according to one study announced by Gov. Greg Abbott on Monday.

The results of a study completed by the Texas Comptroller of Public Accounts through the Texas Military Preparedness Commission show that the military contributed an estimated $123.6 billion to the Texas economy and supported more than 630,000 jobs in communities across the state.

The study is conducted every two years and represents an analysis of the economic impact of the population and employees directly affiliated with the military installations in Texas. This includes active duty, visiting and other military personnel, dependents, civilian employees and contractors directly affiliated with the base.

Of the latest study’s total, Fort Hood directly or indirectly contributed an estimated $29.8 billion to the state economy last year, an increase of 22% since the comptroller’s last report in 2018 which reflected 2017’s economic impact.

Keith Sledd, executive director of the Heart of Texas Defense Alliance said the study also showed an increase in Fort Hood related employment by 2,546 to 152,701 over the two-year period.

“Fort Hood reflects 24.1% of the total economic impact of military installations in the state,” Sledd said in a email to the Herald.

Texas Comptroller Glenn Hegar in a news release Monday said military installations in Texas “are a vital contribution to our strategic national defense and provide a significant economic impact on the entire state economy.”

“In most cases these bases and the men and women who work there are the lifeblood of their communities — supporting local businesses, buying homes and creating the fabric of their neighborhoods. But the economic impact can be felt by every Texan and supports jobs in a wide variety of industries and sectors of the state economy. I applaud the Governor’s efforts to ensure continued support for these important installations.”

Monique Brand - Killeen Daily Herald