BATON ROUGE, La. –Military-related spending in Louisiana generated more than $17 billion in total economic activity during fiscal year 2024, according to a new analysis released by Louisiana Economic Development (LED). The report highlights major growth in the state’s defense sector since 2021, with economic output up 77% and employment up 52%, supporting over 117,000 jobs and $707 million in state and local tax revenue.
“Louisiana is competing and winning in the defense economy,” said Governor Jeff Landry. “Our shipyards, bases and defense companies are creating jobs, driving innovation and powering growth in every region of our state.”
The study, conducted by Business Development Advisors and The Roosevelt Group for LED and the Louisiana Military Advisory Council, examined installations, defense contracts, and veteran spending to measure the military’s impact statewide and across eight regions.
“Louisiana’s military presence is a source of strength for every region,” said LED Secretary Susan B. Bourgeois. “LED is proud to work alongside our defense community to expand opportunity, attract investment and strengthen communities across our state.”
Recent milestones underscore the sector’s momentum. Bollinger Shipyards in Lockport secured a major U.S. Navy contract to build six Arctic Security Cutters, while VRC Metal Systems is investing in a new maintenance facility at Barksdale Air Force Base to support B-52 aircraft. In 2024, Louisiana companies performed more than $3 billion in Department of Defense and Coast Guard projects.
The report also highlights veterans’ economic impact for the first time, showing that 26,000 retirees and 260,000 veterans contribute $5.6 billion in output and support 35,000 jobs statewide.
“This report shows our veterans’ contributions extend well beyond service—strengthening our economy and our communities,” said Louisiana Department of Veterans Affairs Secretary Charlton J. Meginley.
The full Military Economic Impact Analysis and details on LED’s veteran support programs are available at OpportunityLouisiana.com.
MEDIA CONTACTS:
Emma Wagner, LED Communications Director
Emma.Wagner@la.gov | 912.467.2117
Jacey Wesley, LED Strategic Communications Manager
Jacey.Wesley@la.gov | 225.342.5536