Fort Drum Pumped $1.2 Billion Into Local Economy Last YearPosted: Updated:
Fort Drum pumped nearly $1.2 billion into the north country economy last year.
The Army post continues to be northern New York's largest single site employer.
A detailed review of Fort Drum's economic impact on the tri-county area over the last fiscal year shows $1,185,191,930 was leveraged in support of the 15,069 Soldiers and 15,229 Family members living here.
Since fiscal year 1988, the installation has infused $23,467,016,526 into the local economy.
Fort Drum said 15,069 soldiers and 3,785 civilian workers, including contractors, had payrolls last year totaling $732,053,408 and $247,512,302 respectively.
The total military, civilian, tenant and contractor payroll for 2016 was $979,566,710.
"Based upon what we know today, we anticipate our force structure to remain relatively constant over the next several years. Our training and deployment capabilities are critical to support the readiness and rapid deployment requirements of 10th Mountain and Fort Drum units. As a Department of Defense power projection platform and the Army's premiere training location in the Northeast, we will continue to support the readiness of our joint forces and rely upon the North Country for their continued support," said Colonel Bryan Laske, Fort Drum garrison commander, in a news release.
According to Fort Drum, retirees from all military branches who live in the zip code beginning with 136 number
They are paid a total of $5,143,000 a month ($61,716,000 a year) that flows directly into the local economy.
Fort Drum's financial impact during last fiscal year for area school districts was $31,078,996 in federal impact aid.
Fort Drum awarded 81 contracts valued at $14,888,765 to tri-county contractors.
The MICC at Fort Drum also awarded a total of $15,738,191 for supply and service contracts to tri-county businesses.
Purchases of supplies using government credit cards are limited to transactions under $3,500 each, yet government purchase card holders spent $6,089,178 locally.