According to a new study, the Minot Air Force Base had a local economic impact of over $607 million in the previous fiscal year.
Maj. Andrew Webb, commander of the 5th Bomb Wing Comptroller Squadron, presented the Minot Area Chamber EDC’s Military Affairs Committee with the annual base economic impact report for fiscal year 2021.
The economic impact in fiscal year 2021 is smaller than in fiscal year 2020, when the base provided $622 million to the local economy.
According to the Minot Daily News, annual construction, services, and other expenditures were down roughly $11 million in fiscal year 2021 compared to the previous fiscal year.
Payroll was also decreased somewhat in fiscal year 2021, from almost $420 million in fiscal year 2020 to nearly $413 million in fiscal year 2021. Unfilled positions, according to Webb, account for a large portion of the yearly payroll reduction, and jobs have not been slashed.
The 5th Bomb Wing, which operates B-52 bombers, and the 91st Missile Wing, which oversees Minuteman III intercontinental ballistic missiles in the Minot missile field in northwest and north central North Dakota, are both based at the site.
The installation had 5,707 military members attached to it as of September 2021. There were a total of 5,644 accompanying family members.
There are 1,468 military retirees in the Minot region, with a gross payroll of more than $34 million, who contribute to the local economy.