Tampa Bay Business Journal
Florida defense contractors could lose $2.4 billion annually under “sequestration,” or the automatic cuts that would take place if the U.S. Congress doesn’t reach a budget deal.
The projected cuts are included in a report from The Center for Security Policy, a group that advocates for defense spending. The report provides a 2011 baseline to see how states and Congressional districts would be impacted.
Hillsborough and Pinellas counties are among the top five counties in the state with the largest projected contract revenue reductions. Contractors in Hillsborough had $1.1 billion in contract revenue in 2011 and could lose at least $97.1 million annually from 2013 to 2021. Pinellas, with $951.6 million in contract revenue last year, could lose at least $85.6 million each year between 2013 and 2021, the report said.
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