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Economic Impact of RI Defense Sector

The importance of the RI Defense Industry has recently been highlighted in a report and in a major event held in Newport.

In June, the RI Defense Economy Planning Commission issued a report on the impact of the Defense Sector on the RI economy.  The analysis was conducted by Dr. Edinaldo Tebaldi from Bryant University.  The significant outcomes from this report:

-The Defense Sector plays a major role in the RI economy because of its unique ability to undertake research and development leading to innovative solutions to pressing Department of Defense challenges.

-The sector includes the military infrastructure (Naval Undersea Warfare Center, Naval War College, other schools at Naval Station Newport, Air and Army National Guard and the Coast Guard) and the Defense Industry.

-The sector annually adds $3.7B to the RI economy.  That includes $1.9B in household income.

-Every 100 jobs created in the Defense Industry supports another 152 jobs in the overall economy.

-The sector includes 33000 workers and is the highest wage paying sector in RI, with average government salaries at $95K and industry salaries at $73K.