Economic Impact Study

Southwest Florida International Airport is an important contributor to the region's social and economic well-being.

 

In 2005, the airport conducted an Economic Impact Study that found Southwest Florida International Airport generated more than $3.6 billion annually of direct and indirect revenue into the local economy as a result of airport operations. This was a 74 percent increase in contribution from a study conducted in 1999. At that time, the airport contributed $2 billion to the region's economy.

 

The study, which was conducted by Ricondo & Associates for the Lee County Port Authority, analyzed the airport's direct and indirect contributions to the Southwest Florida economy. Direct impacts include economic activities that would not occur in the absence of the airport, including revenue from airlines, airport shops and restaurants, cargo handlers and other airport operations. Indirect impacts are the effects of increased employment and expenditures created by successive rounds of local spending and hiring.

 

The total $3.6 billion economic output includes both direct and indirect impacts. It takes into account money spent by companies and agencies that do business at the airport, by visitors who arrive in the area via the airport, and by travel agencies within the airport's service area, according to the percentage of their business that is aviation-related.

 

The data showed the airport's impact on regional employment increased from 1999 to 2006 by 48 percent - from 43,940 to 64,800. At the same time, the region's payroll increased 72 percent due to the airport - from $886 million to $1.5 billion.

 

The airport directly provided more than 2,500 full-time jobs in 2005, which almost doubled the 1,400 jobs provided in 1999. Approximately 60% of these jobs are with airport concessions, including parking, car rental, ground transportation, food and beverage, retail and advertising operations. Employment by airlines and government agencies each account for approximately one-fifth of the total.

 

The study also examined the economic impact of Page Field, the general aviation airport operated by the Lee County Port Authority. The regional economic impact increased 43 percent - from $35.4 million in 1999 to $50.7 million in 2005.

 

This study quantifies the fact that the airport's importance extends beyond moving people and cargo. Almost everyone in Southwest Florida, even those who never directly use the airport or its services, enjoys some economic benefit from airport operations. The economic impact of the airport will continue to increase as the region grows.