Being one of Florida's top target industry clusters, the state is a leader in the defense and homeland security industry, with the number of defense-related (DoD and USCG) personnel assigned to the state increasing by nearly 11,750 service members between September 2012 and September 2022. This is the second-largest increase of any state in the Union behind only the Commonwealth of Virginia. More importantly, Florida is one of only 17 states to experience growth. Globally, the total number of US personnel has declined by nearly 174,000 over the same period.
The growth in DOD personnel is positively impacting the state's economy as well. Florida's average military compensation (excluding DOD civilian and inclusive of benefits and supplements) was nearly 60% higher than the average Florida job at roughly $94,000 annually. Higher aggregate incomes generally lead to greater household purchasing power and related spending within the regions in which they reside - leading to greater overall economic impacts translating to increased jobs, income, and economic production!
The cause of this growth is multifaceted and complex, but with more than 20 installations, a host of invaluable testing ranges, world-class universities and research facilities, a resilient manufacturing and engineering base, a growing labor pool, first-rate state and community support, and a rapidly changing geopolitical security environment, Florida is primed to continue this growth in the coming years.
Stay tuned as in the coming weeks as we continue our exposé on Florida's defense and homeland security industry.
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