Federal and defense spending up in NC
The Department of Defense has an annual impact of $66 billion and is the second largest sector of the North Carolina economy, 12 percent of GDP.
With six major military installations, 116 National Guard and 40 Army Reserve facilities and the third highest number of uniformed military personnel in the country, North Carolina continues to provide comprehensive support to the military and federal agencies worldwide, including products, services and infrastructure from businesses across the state to support men and women in uniform.
The North Carolina Military Business Center, a business development entity of the North Carolina Community College System, headquartered at Fayetteville Technical Community College announces that federal and defense spending on prime contracts in North Carolina increased in fiscal year 2017 over fiscal year 2016.
“In 2017, businesses in our state executed over $5.1 billion in federal prime contracts, $2.8 billion in DoD prime contracts, and billion(s) more as subcontractors and suppliers on federal projects. Each prime and subcontract performed grows jobs, expands the economy and tax base and improves quality of life for everyone in North Carolina,” said Scott Dorney, business center Executive Director.
Fiscal Year Figures:
Defense Department prime contracts executed in NC increased by $405 million, to $2.83 billion
All federal prime contracts executed in NC increased by $509 million to $5.12 billion
Businesses in 99 NC counties performed work for the federal government as prime contractors
Businesses in 81 NC counties performed work for the Defense Department prime contractors
Businesses in 36 NC counties performed over $10 million in federal prime contracts
Businesses in 12 NC counties performed over $75 million in federal prime contracts, including Pasquotank with $110.6 million.