How Changes In Defense Spending Impact Arizona’s Economy
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U.S. Marine Corps
F-35B Lightning II jets at at Marine Corps Air Station Yuma, Arizona, in 2016.
The defense industry is a big part of Arizona’s economy, employing tens of thousands of Arizonans, and accounting for billions of dollars worth of federal contracts. So changes in spending priorities at the U.S. Department of Defense can impact the state.
Some say the defense industry has had a good run over the last several years, although it grew a little more slowly during the Obama administration. And some are asking how the incoming Biden administration will look at defense spending once it takes office in the new year.
The Show talked with Dennis Hoffman, an economics professor at the W.P. Carey School of Business at Arizona State University, to learn more.
