An annual report on the military’s impact on San Diego’s economy shows defense spending, as a percentage of the region’s economy, grew in 2023 despite a slight dip in overall jobs.
Researchers from the San Diego Military Advisory Council (SDMAC) and UC San Diego’s Rady School of Management measured the local effect of government spending on active duty military members, defense contracts and Veterans Affairs. The Pentagon and VA spending pump $56.4 billion into the San Diego economy, according to this year’s Military Impact Report.
That’s 23.6% of San Diego’s gross regional product.
Mark Balmert, the chief executive officer of the San Diego Military Advisory Council, said the defense industry continues to help drive local economic growth. He added that the report is key in educating the public.
“We want people to understand that there’s a…
