The Northeast Florida Regional Airport’s total statewide economic impact is estimated to exceed $1.4 billion. That figure was determined by a recently released 2019 update to the Florida Statewide Aviation Economic Impact Study received by Historic City News today.
The study, released by the Florida Department of Transportation, indicates that the Northeast Florida Regional Airport has a direct, on-airport, economic impact of $850,529,000; with an estimated visitor spending impact of $45,273,000. The study measures on-airport impacts, the impacts of visitor spending and multiplier impacts. With all factors included, the study shows that the total economic impact of the Airport is $1,472,434,000.
“Airports play an important role in our economy,” stated Suzanne Green, chair of the St. Augustine-St. Johns County Airport Authority, “Airports serve as local employment centers, provide a wide variety of jobs, attract capital investment, and transport tourism and business travelers whose spending is vital to our local and state economy.”
In addition to the total impact, tenants and other aviation related companies, both on the airfield and as determined through the multiplier effect, account for nearly 5,624 jobs and an estimated $343,082,000 in total labor income within the region.
The statewide economic impact of Florida’s 129 public use airports was calculated as $175 billion. The Florida Department of Transportation study began in October 2016 and was completed in March 2019. The findings were part of a March 2019 report, prepared as part of the update to the Florida Aviation System Plan (FASP) and incorporates 2017 data.
“Giving back to the region is at the center of the Airport’s mission,” Edward Wuellner, Executive Director of the Northeast Florida Regional Airport told Historic City News. “We are proud to contribute toward more than a billion dollars in regional economic activity each year. Thanks to the vision of our Authority Board, the work of our tenants, and the entire airport family, our airport will continue to serve as a regional transportation asset within Northeast Florida for decades to come.”
The full study provides the estimated, annual economic impact on the economy of the State of Florida associated with 20 commercial service airports, 100 public-use general aviation airports, and an additional 11 military aviation facilities.
About the St. Augustine – St. Johns County Airport Authority: The members of the St. Augustine – St. Johns County Airport Authority are elected by the citizens of St. Johns County and serve without remuneration. The Airport Authority is chartered by the Florida Legislature for the purpose of operating and developing the Northeast Florida Regional Airport on behalf of the citizens of St. Johns County. Learn more at: www.flynf.com