IAA Contact: Carlo Bertolini
317.487.5025 |
cbertolini@ind.com
Study shows IND drives more than $56 million in state and local tax receipts annually
INDIANAPOLIS
– According to a study released this week by BKD, a national CPA and
advisory firm, the Indianapolis International Airport (IND) and
airport-associated business
activity generate more than $56.5 million in direct tax revenues each
year for local tax jurisdictions and the state of Indiana, including
more than $7.4 million in direct support of local school districts.
In
addition to IND’s economic activities, the study analyzed those of
nearby businesses that would likely not be operating without the
airport’s presence, including rental
car companies, airlines, and logistics companies. The study did not
include the additional tax revenue generated by the Indianapolis Airport
Authority’s (IAA) significant capital and operating expenditures nor
the multiplier effect created by the investments
of the IAA and associated businesses.
“With
U.S. airports linked to more than 10 million American jobs and an
annual payroll of $365 billion, it’s no surprise that IND plays a
significant role in our local
economy,” said Bob Duncan, executive director for the IAA. “As we work
with all of our stakeholders to maximize and expand the value IND
produces for our community, it’s important to understand the positive
impact that IND has locally.”
“Although
IND’s budget is not funded by local or state taxes, we play a
significant role in creating economic activity and tax revenue in
Central Indiana, producing more
than $50 million in tax revenues for our region each year,” Duncan
added.
“This
study further confirms that America’s airports are economic hubs that
drive our local, state and national economies, both inside and outside
the airport fenceline,”
said Greg Principato, president of Airports Council International-North
America (ACI-NA), a trade group that promotes cooperation with all
elements of the commercial aviation industry. “Airports are bright spots
in a time of economic uncertainty, especially
for the 10.5 million American workers who depend on airports for good
jobs across the USA,” Principato continued.
“IND
is an economic engine for the Indianapolis region and will be as vital
to job creation and economic growth for the Indianapolis economy over
the next ten years as
it has been over the last decade,” Principato added.
In
some cases, the tax revenues generated by airport activities make up a
substantial portion of the receipts of local tax jurisdictions. For
2011, the airport-related
tax revenues analyzed by the study were apportioned as follows:
The full report can be reviewed at ACI-NA’s
website at
www.aci-na.org/sites/default/files/iia-tax-impact-study.pdf
www.aci-na.org/sites/default/files/iia-tax-impact-study.pdf
About the Indianapolis Airport Authority
The
Indianapolis Airport Authority owns and operates Indiana’s largest
airport system. In addition to Indianapolis International Airport, its
facilities include the Downtown Heliport, Eagle Creek Airpark,
Hendricks County Airport, Indianapolis Regional Airport, and
Metropolitan Airport. IND has received several prestigious awards
recognizing it as a leader within its class, including annual Airport
Service Quality awards for performance excellence by Airports Council
International. IND is the first airport in the U.S. to win LEED® certification for an entire terminal campus, and the airport has won recognition for excellent customer service,
concessions programs, and art and architecture.
IND’s
economic impact in Central Indiana is more than $3.3 billion annually,
and about 10,000 people work at the airport each day. IND serves more
than 7 million business
and leisure travelers each year and averages 135 daily nonstop flights
to 33 destinations. Home of the world's second-largest FedEx Express
operation and the nation’s eighth-largest cargo facility, IND is
committed to becoming the airport system of choice
for both passenger and cargo service. For more information, visit IND’s
Facebook page at
Indianapolis International Airport
and Twitter page at @INDairport.
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