Fort Knox: The Economic Anchor in Our Own Backyard

By : Jeff Farmer
eXp Commercial / Action Advisors, LLC

Ask people outside Kentucky what comes to mind when they hear “Fort Knox,” and the answer is
usually gold. For those of us who live and do business in Hardin County, the greater value of Fort Knox
is something entirely different. It is jobs, payroll, families, retirees, contractors, housing demand, retail
spending and economic stability.

Fort Knox isn’t simply our neighbor. It is one of the economic anchors that helped shape the
metropolitan market we enjoy today.

There is sometimes confusion about whether Elizabethtown is considered a metropolitan or
micropolitan market. We are a metropolitan.

The U.S. Census Bureau defines a Metropolitan Statistical Area as having at least one urban area
containing 50,000 or more people, together with surrounding areas demonstrating significant
economic and commuting connections. The 2020 Census counted the Elizabethtown-Radcliff urban
area at 76,441 residents.

Our metropolitan designation dates to 2000. In 2013, the federal government renamed the area the
Elizabethtown-Fort Knox Metropolitan Statistical Area, recognizing the importance of Fort Knox within
the regional economy. A regional economic study noted that ours was one of only two MSAs in
America, at that time, carrying the name of a nearby military installation.
Federal statistical boundaries change periodically. The latest 2023 federal delineation shortened the
official designation to the Elizabethtown, KY Metropolitan Statistical Area, currently consisting of Hardin
and LaRue counties. The name may have changed. Fort Knox’s importance certainly has not.

A $5.6 Billion Neighbor

The numbers are remarkable.
The Kentucky Commission on Military Affairs’ February 2026 report estimates Fort Knox’s annual
regional economic impact at approximately $5.6 billion, including roughly $3 billion in payroll when its
broader economic influence is considered. The report describes Fort Knox as Kentucky’s second-
largest employer and notes that approximately 26,000 soldiers, civilians and family members call the
installation home.

That creates economic activity far beyond the installation gates.
Military personnel and civilian employees buy homes. Families rent apartments. Retirees remain in the
area. Contractors lease office and flex space. Families buy groceries, automobiles and restaurant meals
and need healthcare, banking, insurance and professional services.
For commercial real estate, those dollars eventually find their way into rooftops, storefronts, offices and
development sites.
Stability Matters
Perhaps Fort Knox’s greatest economic contribution is something more difficult to put on a spreadsheet:
stability.
Factories expand and contract. Companies merge. Industries change.

Military missions have changed too, don’t we know! And no community should ever take any military
installation for granted. But Fort Knox has repeatedly adapted.
Today’s installation hosts organizations including U.S. Army Human Resources Command, Army
Recruiting Command, Army Cadet Command and V Corps. Approximately 10,000 ROTC cadets also
come to Fort Knox each summer for the Army’s largest annual training event.
Several military and civilian law enforcement entities train at Fort Knox, utilizing specialized ranges,
facilities, and interoperability exercises. The navigability of the Salt River at Fort Knox is a major asset. It
hosts a unique 360-degree riverine live-fire course allowing troops to fire at targets on both sides of
the river while moving down the river in either direction. Units can run tactical exercises 24 hours a day.
All of this produces a diverse military, civilian and contractor employment base rather than
dependence upon one private employer or industry.

Fort Knox and the Commercial Market
You can see Fort Knox’s influence simply by driving north from Elizabethtown through Radcliff.
Housing, restaurants, financial services, medical offices, hotels, convenience stores and service
businesses have developed over decades around the population and traffic generated by the
installation.

But the influence reaches considerably farther.
Fort Knox employees live throughout Hardin County and surrounding counties. Military retirees
frequently choose to remain here. Defense contractors establish operations nearby. Families participate
in our schools, churches and civic organizations.

That population also contributes something increasingly important to employers considering our
region: a workforce accustomed to leadership, technology, logistics, discipline and responsibility.
Don’t Take the Anchor for Granted

We often talk about I-65, the Glendale megasite, healthcare, manufacturing, tourism and our location
between Louisville and Nashville, when discussing Hardin County’s economic future. We should.
But sometimes the asset that has been here the longest becomes the easiest one to overlook.
Fort Knox is more than a military installation located inside Hardin County. It is part of our identity, our
workforce, our housing market and our commercial economy.

The gold may be what made Fort Knox famous. The people, payroll and economic stability are what
make Fort Knox invaluable to us today! HOOAH!!