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20th FW releases 2013 Economic Impact Statement

  • Published
  • By Airman 1st Class Michael Cossaboom
  • 20th Fighter Wing Public Affairs
SHAW AIR FORCE BASE, S.C. --  The Shaw Air Force Base fiscal year 2013 Economic Impact statement was officially released by Col. Stephen Jost, 20th Fighter Wing commander, during the 2015 Chamber's Annual Retreat, Jan. 30- Feb. 1, 2015.

The EIS provides information regarding the 20th FW's mission, resources, and the financial impact Shaw has on the surrounding community.  

"The base's Economic Impact Statement is a vital tool that helps me communicate the contribution Shaw Air Force Base makes to the greater Sumter community," said Jost. "The sharing of this data serves as a catalyst for greater cooperation between the base and local communities in all areas, not just commerce."

The installation's economic impact on the local community is calculated by identifiable off-base local area spending from gross expenditures. The local area, or economic impact region, includes all areas encompassed in a 50-mile radius from the center of Sumter, S.C.

In fiscal year 2013, dating Oct. 1, 2012 through Sept. 30, 2013, Shaw created approximately 2,600 jobs resulting in an estimated annual economic activity of more than $95 million and had approximately $744 million total economic impact on the surrounding area.

"The Economic Impact Statement takes time to produce due to the compilation of source data and calculations that go into the report," Jost said. "More than anything, we want to ensure that it is as accurate as possible so it can continue to serve as a credible source for future data-driven decisions. The compilation of the Economic Impact Statement over the years provides vital trend data that can be used by both base and community leaders when seeking mutually beneficial endeavors to help bolster prosperity on both sides of the fence."