Figure Accounts for 63% of Statewide Air Service Impact
Philadelphia - According to the July issue of Pennsylvania Air Service Monitor, Philadelphia's total economic air service impact was more than $14 billion last year. This was 63% of Pennsylvania's $22 billion total economic impact from air service in 2004. The finding was included in an article titled "Measuring the Economic Benefits of Improved Air Service." The Monitor is published by Eclat Consulting for the Commonwealth of Pennsylvania's Bureau of Aviation.
The $14 billion figure takes into account direct spending by airport and airline employees, indirect spending by Pennsylvania visitors arriving by air, and induced spending resulting from the multiplier effect of the aforementioned amounts being re-spent in the region.
Among other findings reported by Eclat was Philadelphia's $423 million share (91%) of Pennsylvania travelers' statewide airfare savings, which in total amounted to $463 million in 2004.
"These impressive numbers illustrate the importance of Philadelphia International Airport to the Pennsylvania economy," stated Mayor John F. Street. "Our airport clearly drives the lion's share of aviation-related spending in the Commonwealth."
The Eclat article also estimated the direct and indirect jobs created by the air service industry throughout Pennsylvania. Air service in Philadelphia alone sustained more than 34,000 direct, local airport-related jobs in 2004. The total number of all types of jobs generated by Philadelphia International Airport amounted to nearly 132,000 in 2004. Philadelphia's share represents 63% of the state's total of airport related jobs.
"We have endeavored to discipline airfares in Philadelphia over the past five years through increased airline competition and airport cost control," said Charles Isdell, the City's Director of Aviation. "Eclat's estimate that domestic travelers saved more than $422 million in Philadelphia last year through reduced airfares is evidence that our airline competition plan and prudent airport management have indeed been successful."
For information contact:
The Philadelphia Airport System is owned and operated by the City of Philadelphia and is composed of Philadelphia International Airport and Northeast Philadelphia Airport. The Airport System is a self-sustaining entity that operates without the use of local tax dollars. It is one of the largest economic engines in Pennsylvania, generating an estimated $14 billion in spending to the regional economy and employing a workforce of nearly 34,000.