Naval Submarine Base Kings Bay has economic impact over $1.1 Billion
The Camden Partnership commissions a 2017 impact study
From the latest study commissioned by The Camden Partnership, and prepared by Georgia Southern University’s Bureau of Business Research and Economic Development, Naval Submarine Base Kings Bay (SUBASE) was found to have an overall economic impact of $1.142 Billion. This not only makes the installation Camden County’s largest enterprise, it also makes it one of the largest economic generators in South Georgia. This billion dollar figure comes from two main categories, direct spending by the installation ($855 million) and spending by other sectors that is directly spurred by the installation ($287 million).
The study makes it easy to see why government services accounts for about 5 in every 10 jobs in Camden County, or 50% of the labor market. With the manufacturing, retail trade and healthcare jointly accounting for about 10% of the local market. Out of the approximately 9,000 military related jobs in the county, local residents hold 6,600. With the other 2,300 workers categorized as “daily commuters’’, coming in to the county from three major areas; Nassau County (32%), Duval County (26%), and Charlton County (18%). The spending induced from these 9,000 jobs is a major part of the indirect impact of $458 million.
“We salute the service of the men and women stationed at SUBASE and thank all of the hard-working employees at this installation for their contribution to the success of SUBASE. The impact Naval Submarine Base Kings Bay has on Camden County is something that goes without analyzing, however crunching the numbers is beneficial for a few major reasons. Having a data driven insight into the financial impact SUBASE has on our county, and all of Georgia, is a crucial component when discussing the installation,” said Sheila McNeill, president of The Camden Partnership.
From an economic development perspective, its presence is a major asset for future growth in the area. James Coughlin, Camden JDA Executive Director, “Though the present numbers are immensely promising, the work doesn’t stop there; When we discuss opportunities to grow the mission of SUBASE, we are discussing development and additional employment opportunities for Camden County".
“The Camden Partnership would like to thank Linda Cook with ERA, the Camden - Charlton County Board of Realtors and the Georgia Association of Realtors, Inc. for their support and for the funding of this study”, said McNeill.