DHS gave $33.9 billion in homeland security contracts to New England companies.
Boston, MA - Federal defense and homeland security contracts added $33.9 billion to the New England economy in 2011 -- up 85% from eight years ago, according to a new study from the University of Massachusetts Donahue Institute.
The regional study commissioned by the Defense Technology Initiative found that the defense and homeland security industries are highly interconnected among all six New England states and important to the region's economy.
"The real value of the report is the beginning of our commitment to keep this data refreshed on a regular basis," said Initiative President Christopher Anderson.
Tracking data from 2003 to 2011, the report examines the trends in defense spending and the interconnections between the New England states. It estimates the total direct and indirect economic activity spurred by federal defense and security contracts in the region exceeded $62 billion last year.
Massachusetts, the report's top earner, received nearly $13.9 billion from Department of Defense and Department of Homeland Security contracts -- an increase of 83 percent over the study period.
The report found that Connecticut experienced the second largest revenue boost from federal contracts in the region, with $12.7 billion pumped into the state's economy last year -- up 58 percent from 2003 and accounting for more than 101,000 jobs.
New Hampshire gained $1.3 billion from defense contracts, more than doubling its revenue amount.
Maine's contract for new Navy destroyers at General Dynamics' Bath Iron Works contributed to the largest state increase since 2003, bringing in $5 billion in 2011, compared to the $1 billion brought in just eight years earlier.
Meanwhile, Rhode Island and Vermont received the smallest direct economic boost from federal defense and homeland security contracts, each taking in less than $1 billion in 2011.
http://www.pressherald.com/news/defense-security-spending-jumps-in-new-england_2012-06-26.html
The New England Defense Industry: Current Profile & Economic Signifigance Study:http://media.kjonline.com/documents/New+England+Defense+Study_06_20_12.pdf
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