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Impact of the Defense Sector in Massachusetts

Impact of the Defense Sector in Massachusetts. New England. Home to over 5,000 businesses with nearly $34 billion in DOD and DHS contracts Employ over 319,000 people Total economic impact: $62 billion. Massachusetts.

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Impact of the Defense Sector in Massachusetts

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  1. Impact of the Defense Sector in Massachusetts

  2. New England • Home to over 5,000 businesses with nearly $34 billion in DOD and DHS contracts • Employ over 319,000 people • Total economic impact: $62 billion

  3. Massachusetts • Home to over 2,500 businesses with $13.9 billion in DOD and DHS contracts • Employ over 319,000 people • Total economic impact: $ 25.8 billion

  4. Sequestration impacts • Total reduction in federal funds estimated $1.32 billion FFY13 • Increasing to $1.96 billion in FFY14 • Impact limited FFY13 in MA as leading contractors had substantial work from earlier contracts • Smaller firms, with lower margins and fewer contracts, hit harder

  5. Sequestration impacts • DOD contracts: • Estimated $497 million cuts FFY13 • Estimated $791 million cuts FFY14 • DOD grants: • Estimated $11 million cuts FFY 13 • Estimated $17 million FFY14

  6. Sequestration impacts • Military Base Operations: • Estimated $75 million cuts FFY13 • Estimated $92 million cuts FFY14 • Defense Civilian Employee Wages • Estimated $22 million cuts FFY 13 • Estimated $36 million FFY14

  7. Regional Strategy • Economic Adjustment Assistant Grants • Massachusetts: • Regional assets mapping (CT, MA, RI, ME) • Technology transfer expansion • Accelerate commercialization of defense-related products • New applications for defense-related products • Integrate response efforts with other New England states • Support CT in regional supply chain mapping

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