Sunday, May 13, 2007
Report: Airport generates $500 million in tax revenue
The Newport Beach (CA) Daily Pilot
John Wayne Airport released a study this week estimating that the airport generated more than $496 million in tax revenue in 2005.
The study of economic effects reported that the airport also sparked $5.61 billion in spending and employed the equivalent of 42,162 full-time workers who were collectively paid $1.28 billion in 2005. John Wayne was the 28th busiest airport in the country in 2005 because of its 11 commercial, three commuter and two cargo airlines, according to the study.
The study analyzed direct, indirect and induced “impacts.” Direct impact refers to business and government that provides aviation and supporting services at or by the airport. Indirect impact refers to airport-dependent business outside JWA. Induced impact refers to other economic activity, such as when workers spend money at local stores.
The airport partnered with Unison-Maximum Inc. for the report.
John Wayne’s direct impact generated at or by the airport, was reportedly more than $943 million.
The indirect impact was nearly $2 million, and induced impact was about $2.6 million.
This year the airport continues to see a rise in airport operations. In April, the airport reported an almost 5% increase in passengers and a more than 7% increase in commercial flight operations
TAX COW: Planes line up for takeoff at John Wayne Airport.