3 companies accounted for 93% of all prime defense contracts awarded
● General Dynamics Electric Boat in Groton received an average of $9.7 billion per year
● Raytheon Technologies in East Hartford received $5.7 billion per year
● Sikorsky Aircraft in Stratford received $3.9 billion per year
The total average annual value of defense contracts (inflation-adjusted)
● $16 billion in 2008-2010
● $23.8 billion in 2020-2022
● 48% growth
Defense cluster
● 130,097 jobs
● 7.8% of the state’s employment
● 69,120 direct jobs
● 60,978 indirect or induced jobs
● $13.7 billion in labor income
Total economic output
$40 billion in gross domestic product (GDP)
● $33.1 billion private defense industry
● $6.9 billion military defense infrastructure
12.5% of Connecticut’s GDP
Source: https://senedia.org/economic-impact
Explore the November December 2023 Issue
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