The study, conducted by the Los Angeles Economic Development Corporation, arrives at a time when the federal Base Realignment and Closure process is threatening to close the base next year, resulting in a negative impact on the economy.

"This study proves that retaining the L.A. Air Force Base is the top issue of economic importance to our county over the next six months," said Los Angeles County Supervisor Don Knabe. "Job one needs to be protecting all these jobs and ensuring that this important base is not closed by the federal government."

Mike Gordon, state Assemblyman-elect and former El Segundo mayor, agreed with Knabe. Gordon, who has worked hands-on in the modernization of the base, is eager to see the base remain in El Segundo.

Less than a year ago, Gordon was instrumental in encouraging a land swap between El Segundo and the Los Angeles Air Force Base where developers, including Kearny Real Estate, Morgan Stanley Real Estate and Catellus, were given a piece of land located in El Segundo in exchange for modernizing the 50-year-old base. However, because the land bordered Hawthorne and developers planned a residential development, the El Segundo City Council agreed that the property would be better suited in Hawthorne. In the final stage of the land swap, the land was annexed by Hawthorne, allowing the city to have input.

Currently, the work of the LAAFB includes overseeing the development of the next generation of ballistic missiles, rockets and satellites to guide United States forces in the global war on terror. Programs headed by the LAAFB include the global positioning system, the latest space- based radars, infrared satellites and secret space weapons systems.

"What today's LAEDC report clearly shows is that with $16 billion in economic impact on a statewide level, the retention of the Los Angeles Air Force Base must be a top priority for state government," Gordon said. "With state budget cuts likely in the coming year, we cannot afford to see the Los Angeles Air Force Base, which alone provides more than $300 million in state tax revenue, close."

The announcement of the report was delivered at a news conference organized by the Los Angeles Air Force Base Regional Alliance. It was hosted by Knabe and included comments made by several local city officials including Redondo Beach Councilman and alliance co-chair John Parsons.

Parsons, who has also been active in the past couple of years with the restoration and modernization of the base, said that closing the base would be devastating to the regional and state economy, more so than the industry layoffs and recession of the early 1990s.

"People right here at home need to take an active role in helping us to make a case that this base needs to remain here," Parsons said. "This is not only for our economic security, but more importantly for our national security. The intellectual capital and sheer brainpower that has built up around the LAAFB over the last 50 years is invaluable as we continue to send our military forces around the world."

According to a report issued by the LAAFB Regional Alliance, the Space and Missile Systems Center at the LAAFB located in El Segundo manages $60 billion in contracts and employs 90 percent of the people involved in military space work.