Military Cuts Threaten Virginia’s Pentagon-Dependent Economy
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Virginia, Hawaii and Alaska may suffer the most economic harm from defense cuts of as much as $1 trillion during the next decade, a Bloomberg Government study shows.
Those three states are the most dependent on U.S. military spending, the study found. Virginia, home of the Pentagon and the Norfolk naval base, tops the list with 13.9 percent of its gross domestic product derived from defense spending. Hawaii ranks second, at 13.5 percent, and Alaska is third with 10.7 percent. All other states are in single digits, the study showed.