GRISSOM AIR RESERVE BASE, Ind. -- Money matters, and when it comes to money, Grissom’s economic impact into the area weighed in heavily at $205M dollars for Fiscal Year 2023.
The annual report, compiled by Grissom’s financial management staff, offers insight into how the base operates financially in the two counties it resides in -- Miami and Cass counties, and beyond.
"While the impact Grissom makes financially is substantial, Grissom’s impact goes beyond money, and is just as important," said Col. Summer Fields, 434th Air Refueling Wing commander.
The economic impact report is broken into three areas – direct impact (salary); indirect impact (what people do with that salary); and direct impact for expenditures like construction, and operations and maintenance expenses, etc.
Grissom’s military population, consisting of active duty, active-guard and reserve, and traditional reserve members, earns more than $40M in annual salaries, while the civilian work force earns nearly $79M annually.
That earning means spending in the local area, and when money is spent, jobs are created.
The calculations show that about 400 jobs are created or supported through indirect household spending alone such as retail stores, etc. Add to that the roughly 169 jobs created through expenditures, like utilities.
Combined, those indirect job creations pump nearly $30M into the local economy.
Military construction projects also build up the economy.
While the recent runway repair project was one of the largest, it was credited in the FY 22 figures rather than FY23 because it was obligated in FY22.
Construction projects obligated in FY23 totaled more than $12.5M.
Just like every household, the base has bills to pay. Between utilities, professional services, educational services and incidental expenses, the base spent nearly $6M to operate.
What the numbers don’t show is Grissom's human impact to the area.
Grissom’s fire fighters respond locally to save lives and properties, and work with local fire departments for training, and to provide additional assistance as needed.
Airmen assigned to the base live in the community, and are involved with schools, churches and professional groups.
"We’re proud of what we put in the ledger," Fields said, "but we’re equally proud of what can’t be measured – and that’s being a good neighbor."
The Department of Defense and Treasury have guidelines on how units can track money for economic analysis purposes. Analyses conducted by the Air Force represent only first and second tier indicators as only salaries and direct costs of labor and construction are measured.
The 434th ARW is the largest KC-135R Stratotanker unit in the Air Force Reserve Command. The Citizen Airmen from the Hoosier Wing routinely deploy around the world in support of the Air Force mission.
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