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COPYRIGHT 2005 Knight-Ridder/Tribune Business News
By Darla Martin Tucker, The Business Press, San Bernardino, Calif. Knight Ridder/Tribune Business News
Feb. 28--Increased wartime spending bolstered revenue at local aerospace firms in fiscal 2003-04, and high-level spending is expected to continue for the next year or two, according to a Los Angeles economist and federal reports.
According to prime contract data from the U.S. Department of Defense, aerospace firms in Riverside County grew revenue 5.8 percent in 2003-04 to reach $258 million. Companies in San Bernardino County, home to a division of Northrop Grumman Corp., saw revenue surge 25.1 percent to $554 million.
The Inland Empire topped Los Angeles and Ventura counties, where aerospace revenue fell. San Diego County held steady while contract revenue in Orange County jumped 14.4 percent to reach $2.6 billion.
The military is spending heavily...
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