Monday, August 15, 2011

Charlottesville-Albemarle Airport, Virginia Airports Contribute $28.8 Billion to Economy

Governor Bob McDonnell announced Monday results of the Virginia Airport System Economic Impact Study which details the contributions of the state’s 66 public-use airports to the Virginia economy.

The independent report reveals that in 2010 Virginia’s diverse system of airports:

- Produced $28.8 billion in overall economic activity

- Generated $11.1 billion in payroll

- Created 259,000 jobs, representing nearly 5.5 percent of the state’s total jobs

The Virginia Department of Aviation (DOAV) commissioned the study to identify the economic benefits associated with the 66 public-use airports, which include nine commercial service and 57 general aviation airports serving communities throughout Virginia.

The study focused on the economic impacts created by the airports, the visitors who travel through the airports and the in-state companies that rely on the airports to support and conduct their business.

Locally, the Charlottesville-Albemarle Airport (CHO) created 1,267 jobs, generated $40.67 million in payroll and produced $128.68 million in economic activity.

“The Commonwealth’s system of airports not only provides a safe and efficient means of transportation for businesses, residents and visitors, it stimulates economic growth and development,” said Governor McDonnell. “We are proud of the economic contributions our airports make to our local communities and beyond.”

The report notes that the airport system contributes greatly to the state’s economic stability by supporting more than 250,000 jobs and generating billions in economic activity. According to the report, the state’s commercial service airports account for 71 percent of the total economic activity for Virginia. In addition, Virginia’s general aviation airports contribute $728 million in economic activity. The study also found that for every $1 spent at a Virginia airport an additional $3.48 in economic activity is generated.

On average, each visitor that flew into CHO spent a total of $466 while in town. The breakdown is as follows:

- Airport Lodging: $146

- Food & Beverage: $133

- Entertainment: $48

- Ground Transportation: $90

- Retail: $59

“This report makes it clear that continued and increased investment in our airport system is an effective way to grow the Virginia economy,” added the governor. “The airport system not only provides jobs and air transportation services, the system also contributes to enhanced quality of life and economic development.”

Source:   http://www.newsplex.com

No comments:

Post a Comment