Wallops Economic Value Study

Executive Summary

Wallops Island provides a significant positive economic impact to the local economy. To estimate the economic impact of the project, the IMPLAN software package (produced by the Minnesota IMPLAN Group, Inc) is utilized. The economic impact of Wallops Island manifests itself through three channels: 1) the annual impact from operations of the various businesses at the site, 2) the employment impact generated by the percentage of the employees’ payroll spent locally, and 3) the annual impact from the additional tourism generated in Accomack County by the Flight Facility. A portion of the impacts that leak out of the county are captured by the rest of the Lower Eastern Shore (LES) (which includes Northampton County in Virginia and Somerset, Wicomico, and
Worcester Counties in Maryland). Additionally, the activities create an impact outside of the region due to expenditures spent elsewhere and leakages; this impact is also estimated here.

Full report.

Related Articles

Press Release.

DelmarvaNow.com article.