As sequestration and the fiscal cliff loom, many sectors of the economy are bracing themselves for federal budget cuts. One sector of the New England economy that is particularly at risk is the region’s large defense sector.
One major Department of Defense project, the F-35 Joint Fighter Program, has a significant impact, not only on our national defense, but also on our economy here in New England. The F-35 directly and indirectly supports more than 133,000 high-paying, family-supporting jobs across this country, pumping more than $17 billion into the national economy and supporting 1,350 suppliers in 45 states and Puerto Rico. New England is home to 269 suppliers to the F-35 program, pouring nearly $1.5 billion into our region’s economy and providing jobs to well over 18,000 people.
ECONOMIC IMPACT OF THE F-35 PROGRAM IN NEW ENGLAND
Direct & Indirect Jobs
New England Total
Source: Lockheed Martin
The New England Council recently sent letters outlining this significant economic impact to all members of the New England Congressional delegation. The letters provide the Members of Congress with data specific to the states they represent, and urge them to support the program as defense cuts are considered. Click here to view a sample letter.