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Fort Lee adds $2.4B to region's economy annually

Wednesday - 9/19/2012, 11:44am  ET

PETERSBURG, Va. - A new report shows that Fort Lee is a major force in the Petersburg region's economy.

The report says Fort Lee's annual estimated economic impact is $2.4 billion. The Army installation also accounts for nearly 28,000 jobs and generates more than $124 million in state and local tax revenues.

Fort Lee's economic impact includes spending by the federal government, contractors and soldiers stationed at the installation.

The region includes Chesterfield, Dinwiddie and Prince George counties and the cities of Petersburg, Hopewell and Colonial Heights.

Media outlets say the Crater Planning District Commission released the report by the University of Illinois at Chicago on Tuesday.

Commission executive director Denny Morris says Fort Lee represents a seventh of the region's economy.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)