Friday, June 15, 2012

Academy reports economic impact: $999 million

Posted By on Fri, Jun 15, 2012 at 10:00 AM

Air Force Academy Colorado Springs

No one would have faulted officials at the Air Force Academy if they'd rounded up to $1 billion when reporting the 2011 economic impact on the region of the academy, located on 19,315 acres north of Colorado Springs. But to be precise, the academy states in a report issued today that its economic impact totaled $999 million.

Air Force Academy Colorado Springs

The 24-page report contains lots of interesting figures, such as:

— Total workforce was 12,797 military and civilians; 3,360 were civilians.
— Payroll totaled $416.8 million, with cadets receiving $69.5 million of that.
— Last year, the base spent $168.6 million on construction and $165.2 million on services contracts.

From the report, issued annually under a service directive:

The staff and faculty of the United States Air Force Academy, in the interest of our future national security, transform our future leaders into outstanding young men and women to become Air Force officers with knowledge, character, and discipline; motivated to lead the world’s greatest aerospace force in service to the nation. Before its graduates enter various operational and support specialties, the Academy trains them to be, first and foremost, Air Force officers. Of the more than 42,880 graduates from more than 50 classes, more than 13,000 are on active duty.

The Academy’s work force consists of 12,797 military members and civilian employees. Of these employees, 3,360 are civilian. The rest are active duty military and cadets. Civilian employees include: wage grade employees, general schedule civil service employees (including National Security Personnel System employees), and non-appropriated fund employees (included in the non-appropriated numbers are morale, welfare, and recreation, Athletic Association, Base Exchange, Air Academy Federal Credit Union, and Air Academy National Bank) and private contractors. There are approximately 75,000 retired military and family members in the regional area. Nearly half use Academy facilities, although the retiree impact is not included in this report.

Although not included in the impact analysis, the Academy is a national icon that draws over 440,000 visitors annually. The Academy holds 17 varsity sports for men and 10 for women to include football, volleyball, basketball, hockey, and others, associated with NCAA Division I Athletics and The Mountain West Conference. Over 3,100 youths attend sports camps each summer. These sporting events are estimated to draw over 300,000 attendees, approximately $5.7M in revenue, and $1M in labor costs.

USAFA supported the Combined Federal Campaign with donations totaling $614,871 in FY11. While we recognize CFC is not the only support to the local community, CFC is the main fundraiser supported by the installation that gives back to the community. Roughly 30% of CFC donations support the local agencies.

For fiscal year 2011, the economic impact of the United States Air Force Academy on the local area was approximately $999 million dollars.

To read the full report, go here:
AFA_Econ_impact.pdf

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