Air Force Academy estimates its economic impact at $1 billion

AIR FORCE ACADEMY, Colo. — The Air Force Academy says it injected nearly $1 billion into the economy in fiscal 2011.

The school outside Colorado Springs said Friday its economic impact was $999 million for the fiscal year that ended in September 2011.

The previous year’s estimate was about $851 million.

The 2011 figure includes payroll of $422.3 million, construction worth $168.6 million and $253.7 million in services, materials, equipment and supplies.

The academy estimates that payroll from community jobs created because of the school’s presence was $160 million.

The academy estimates it has indirectly created nearly 3,400 community jobs paying an average of $47,500 annually. Those figures are based on a Defense Department formula and local data.

Article source: http://www.therepublic.com/view/story/4c94d9124eb34fba99969885b5ac4f4b/CO--AF-Academy-Economic-Impact

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