Tuesday, October 14, 2014

Value of Gulf Coast bases climbing

Aviation-focused military bases and sites in the Gulf Coast aerospace corridor between New Orleans and Northwest Florida saw their replacement value increase significantly this year over last, soaring to a combined $18.4 billion. That's up 9.8 percent over 2013, according to newly available Pentagon figures. The region's seven "billion-dollar" bases increased their replacement value from $13.61 billion in the 2013 to $15.1 billion in the 2014 Base Structure Report. One base alone, Eglin Air Force Base, Fla., near Fort Walton Beach, would cost $805 million more to replace in 2014 than in 2013. That's an increase of more than 20.5 percent to $4.7 billion. (Source: GCRL Newsletter, 10/14/14)