This week, federal agencies stated they are seeking $11.6 billion in funding for 190 construction projects in the Washington area between now and 2014, in response to the Department of Defense's 2005 Base Realignment and Closure (BRAC).
BRAC refers to the congressionally authorized process used to reorganize military bases to more efficiently and effectively support our forces, increase operational readiness and facilitate new ways of doing business.
The four previous BRAC rounds eliminated approximately 20 percent of DoD's capacity that existed in 1988 and, through 2001, produced net savings of approximately $17.7 billion with recurring savings of $7 billion annually.
While the Pentagon stated it would save $49 billion nationwide over 20 years, it appears northern Virginia will reap many benefits. In particular, Fort Belvoir in southeast Fairfax County would gain more than 20,000 workers, while its Marine neighbors to the south at Quantico would gain 6,000 employees.
Of the 26,000 inbound jobs expected at Fort Belvoir and Quantico, nearly 56 percent are held by DOD civilians, 20 percent by military personnel, and 24 percent are embedded contractor positions. The influx of workers is expected to have a positive impact on the economy of the Northern Virginia.
According to a report by the Center for Economic Assessment and the Center for Regional Analysis, approximately 6.2 million square feet of newly built office space and seven million square feet of parking will be constructed at Fort Belvoir in the next four years. The same report places total outlays associated with the proposed development programs at $4.1 billion, inclusive of construction activities.
In all, BRAC and non-BRAC related construction activities planned at Fort Belvoir would create 50,359 construction and related jobs, add $3.3 billion in new earnings, and $7 billion in total economic activity during the build-out phase between 2007 and 2011.
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