 |
 |
 |
Falcon Field Airport Generates $5.5 Million Daily Into Local Economy Of Northeast Valley
A recent economic impact study recognizes value of Falcon Field Airport
MESA (November 1, 2004) - Findings from a recent economic impact study of Arizona's public use airports by the Arizona Department of Transportation's Aeronautic Division highlights Falcon Field Airport and its unquestionable role as an economic catalyst in the Northeast Valley. This study was prepared by SH&E with the assistance of the WP Carey School of Business.
Findings show that Falcon Field Airport is a proven community asset that generates over $5.5 million of economic activity daily and does so at no cost to the taxpayer. The value added to the Falcon Field Business District economy by people and businesses that use or supply Falcon Field directly is $1.02 billion annually. When the multiplier effects of indirect spending are included, the total economic impact is $2.02 billion. These figures place the Falcon Field Airport as providing the third largest economic impact in the state following Phoenix Sky Harbor and Tucson International.
According to the study, the total impact of the airport on the labor market in Northeast Mesa is 17,602 jobs. That includes 5,762 jobs directly related to the airport and another 11,834 jobs indirectly created in the local community.
"These figures validate the importance of Falcon Field Airport to Northeast Mesa and its influence on the economy, said Lois Yates, executive director of Falcon Field Area Alliance. "These numbers are very valuable to businesses considering relocation as they will strongly influence their decision to move to the Falcon Field Business District."
The total economic contribution of the airport includes primary impacts created by the economic activities of aviation suppliers and users as well as spin-off impacts. Spin-off impacts are created when spending by aviation suppliers and users creates additional jobs and spending that support non-aviation businesses. These spin-off benefits created by these successive rounds of spending are also known as multiplier effects.
Falcon Field Airport has all the functions and physical infrastructure of a modern city. They have multiple tenants engaged in a wide variety of aeronautical and general business enterprises located on and generating income for the airport. The terminal complex, general aviation facilities, airport support facilities and aircraft operating areas such as runways, taxiways and aprons easily value into the millions of dollars of assets. The Falcon Field airport is "big business" impacting the social, economic, and political life of the Northeast Valley.
The Falcon Field Area Alliance is a privately funded non-profit 501C6 corporation which is governed by a local Board of Directors. The Board has broad based membership and be inclusive of the many different groups and interests in and around the Falcon Field area. Daedalus Real Estate Advisors, LLC, developer of Longbow Business Park & Golf Club and Dover Industrial Park, is the sponsoring partner.
For more information on Arizona Department of Transportation's economic impact study, visit www.dot.state.az.us/aero/library/publicusebycounty.pdf. For more information on Falcon Field Area Alliance, contact Lois Yates at 480.610.0815 or visit www.falconfieldarea.org.
| | |