BATON ROUGE, La. – Military-related spending contributed more than $17 billion to Louisiana’s economy in fiscal year 2024, according to a new analysis released by Louisiana Economic Development. The report indicates a 77% increase in total military-related output and a 52% rise in employment since 2021, underscoring the sector’s growing role in the state’s economy.
The study found that defense-related activity supported more than 117,000 jobs and generated $707 million in state and local tax revenues during the fiscal year. Conducted by Business Development Advisors and The Roosevelt Group for Louisiana Economic Development and the Louisiana Military Advisory Council, the analysis examined installations, contracts, and veteran-related spending to measure total impact across the state.
“Louisiana is competing and winning in the defense economy,” said Gov. Jeff Landry. “Our shipyards, bases and defense companies are creating jobs, driving innovation and powering growth in every region of our state.”
Recent defense investments across Louisiana are reinforcing this growth. Bollinger Shipyards secured a U.S. Navy contract to build six Arctic Security Cutters at its Lockport facilities, while VRC Metal Systems is establishing a maintenance facility at Barksdale Air Force Base to support B-52 aircraft, adding high-skilled engineering and technician roles. In 2024, Louisiana saw more than $3 billion in Department of Defense and Coast Guard projects.
The report also expanded its scope to include economic activity tied to Louisiana’s 26,000 military retirees and 260,000 veterans. Combined, their spending and related contracts generated $5.6 billion in economic output and supported more than 35,000 jobs statewide.
“As someone who has served, I know the deep commitment Louisiana’s veterans and military families carry into every part of their lives,” said Louisiana Department of Veterans Affairs Secretary Charlton J. Meginley. “Their contributions extend well beyond military service—strengthening our economy, our communities, and our state as a whole.”
LED Secretary Susan B. Bourgeois said the findings reflect the statewide importance of defense-related industries. “Louisiana’s military presence is a source of strength for every region of our state,” she said. “LED is proud to work alongside our defense community to expand opportunity, attract investment and strengthen the communities that make Louisiana thrive.”
The full Military Economic Impact Analysis is available on Louisiana Economic Development’s website and includes detailed regional data and resources for veteran-owned businesses.