Navy’s impact on Hampton Roads economy tops $14.6 billion

NORFOLK — The Navy says its economic impact for the Hampton Roads area topped $14.6 billion in the fiscal year that ended Sept. 30.

That’s an increase of more than $765 million from the previous fiscal year.

Annual payroll fell from $7.9 billion to $7.5 billion during the period, while procurement expenditures rose from about $6 billion to more than $7 billion.

The Navy also says the number of ships home-ported in Hampton Roads declined from 94 to 84.

The fiscal year ended Sept. 30.