Regional Economic Impact Analysis
This is a research project collaboration between SSMCP and the UW-Tacoma, Milgard School of Business, Center for Business Analytics (CBA) that seeks data and participation from targeted communities.
A military installation the size of JBLM is a major employment center much like a large business (i.e. Boeing, Microsoft, Amazon, etc…). Its impact is felt across the region. JBLM is the #2 employer in the state and #1 employer in Pierce County. Consider the impact on the region should JBLM close. Several billion dollars of economic activity would cease. Tens of thousands would leave the region. Hundreds of businesses in local communities would close.
Our proposed project, a JBLM Regional Economic Impact Analysis, quantifies the true economic impact of the JBLM workforce. JBLM is invested in 17 South Sound communities—defined as Pierce and Thurston counties, JBLM, & the Nisqually Indian Tribe.
Facts Bearing on the Problem
- According to the Office of Economic Adjustment JBLM brings $3.3B in Department of Defense (DOD) spending to Pierce County annually.
- JBLM’s workforce of active duty and DOD civilians exceeds 52K. With 45K military dependents and 32K retirees the population serviced at JBLM exceeds 120K.
- 85% of the JBLM workforce live off-base interacting with surrounding communities.
Potential Project Benefits:
· Outcomes of the project may demonstrate the critical importance of JBLM in maintaining a stable state economy.
· The partners of SSMCP will be able to use this analysis in strategic messaging to local jurisdictions and representatives of our federal delegations.
· Our federal representatives will be armed with current, relevant economic data which currently does not exist.
· SSMCP will be able to quantify the value of JBLM to the region and make a stronger case to support the Department of Defense’s decision to realign missions at JBLM.
· The economic analysis tool will provide recurring, long-term benefits to SSMCP partners and permit development of annual economic impact reports.
· Project report describing analytic methodology and outcomes of JBLM Regional Economic Analysis
· Reusable economic analysis tool – produces filtered annual economic reports for SSMCP members
JBLM Regional Economic Impact Analysis Milestones:
· 28 Feb 2018—IPR with Business and Economic Development Working Group
· 27 April 2018—Presentation to the SSMCPSteering Committee
· 17 May 2018—Elected Officials Council (EOC) project presentation
· 31 Aug 2018—Report on JBLM’s economic impact to the region
· TBD Nov 18—Final presentation and demonstration of analysis tool at EOC
· 31 Dec 18— Projected tool launch date