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Airports Provide Economic Benefit

Airports Provide Economic Benefit

By Greg Grootendorst, Chief Economist

In August of 2011, the Virginia Department of Aviation released the Virginia Airport System Economic Impact Study.  The study focused on three aspects of economic benefit derived from the state’s airports 1) businesses and tenants located at Virginia’s commercial service and general aviation airports, 2) visitors who travel through Virginia’s airports, and 3) in-state companies that rely on the airports to

support and conduct their businesses.
 
Key findings of the report include:
•    Virginia’s airports contribute $28.8 billion in economic activity to the state’s economy
•    Approximately 259 jobs are created and sustained by Virginia’s airports
•    $11.1 billion in payroll is realized as a result of jobs created by Virginia’s airports
•    More than 69 people each day board commercial aircraft in Virginia
•    On a daily basis, over 6 aircraft take-off from and land at Virginia’s airports
•    Each job at Virginia’s airports supports an additional seven jobs in the state
•    Every $1 spent at a Virginia airport contributes an additional $3.48 in economic activity for Virginia

The table below includes impact information for state and regional airport facilities.

 

Click HERE for a copy of the report from the Virginia Department of Aviation.

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