Synthesis of Information Related to Airport Problems Topic S03-03. Airport Economic Impact Methods and Models

<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in"><span style="FONT-SIZE: 14pt"><font face="Times New Roman">The role of local airports in regional and state economies has substantially changed in the past two decades and continues to evolve.<span style="mso-spacerun: yes">  </span>Agencies, including airport operators and managers conduct economic impact studies to demonstrate the significance of their airport, as a means to persuade policy makers to protect airports against adjacent incompatible uses, and as rationale to pursue projects and business lines that would add vitality to regional interests. </font></span><span style="FONT-SIZE: 14pt"><font face="Times New Roman">The increased efficiency of aviation and air travel has lead to changes in the relationship between airports and regional economies.<span style="mso-spacerun: yes">  </span>Air cargo has the fastest growth rate of any freight mode, and has gained economic importance with the growth of national and global markets and supply chains for manufactured goods.<span style="mso-spacerun: yes">  </span>General aviation airports focusing on traditional general aviation uses and specialty segments, such as air cargo, corporate jets or aircraft maintenance, have also emerged.<span style="mso-spacerun: yes">  </span>Passenger air travel has taken on increased importance for education, R&amp;D, technology and tourism clusters. The economic role of larger airports has also changed with the growth of international gateways, shifts in passenger and freight hubs, and changes in airline business practices. </font></span><span style="FONT-SIZE: 14pt"><font face="Times New Roman">Often these various factors are being addressed by local airport economic impact studies, using new tools and methods for economic impact analysis.<span style="mso-spacerun: yes">  </span>The traditional methods used in airport economic impacts studies are often inadequate for capturing the unique value of the airport to its local community.<span style="mso-spacerun: yes">  </span>Some of the newer studies may have moved beyond the traditional method, promulgated 15 years ago, which focused on applying multipliers to airport jobs and visitor spending (the 1992 FAA document:<span style="mso-spacerun: yes">  </span>"Estimating the Regional Economic Significance of Airports."). A new guide might be desirable in the future, and a first step would be to have a synthesis study document the newer issues and tools that comprise the state of practice today.<span style="mso-spacerun: yes">  </span></font></span><span style="FONT-SIZE: 14pt"><font face="Times New Roman">The focus of this synthesis is on how economic impact studies of airports are conducted today, which is quite different from the incremental economic benefit/cost analysis of investing in an airport project.<span style="mso-spacerun: yes">  </span>This project will focus specifically on methods and models used to (a) define and identify, (b) evaluate and measure and (c) communicate the different facets of economic impact and community benefits that local airports are having on or provide to communities and regions.<span style="mso-spacerun: yes">  </span>First, the study will review the literature of newer studies on economic impacts and community benefits of airports, which are widely available on the internet and through local and state agencies.<span style="mso-spacerun: yes">  </span>Second, it will survey appropriate organizations to collect information on the extent of these studies, their motivation and use.<span style="mso-spacerun: yes">  </span>Third, it will assemble a list of sample reports on local and state studies that illustrate the different facets of impact and approaches used to assess economic roles.<span style="mso-spacerun: yes">  </span>Finally, the report will discuss the various analysis methods, models and tools that are available and in use for local airport economic studies.<span style="mso-spacerun: yes">  </span>It will also discuss their applicability and tradeoffs, including shortcomings of existing methods and models.<span style="mso-spacerun: yes">  </span><o:p></o:p></font></span></p><p class="MsoNormal" style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in"><span style="FONT-SIZE: 14pt"><o:p><font face="Times New Roman"> </font></o:p></span></p>


  • English


  • Status: Completed
  • Contract Numbers:

    Synthesis11-03, Topi

  • Sponsor Organizations:

    Federal Aviation Administration

    800 Independence Avenue, SW
    Washington, DC  USA  20591

    Airport Cooperative Research Program (ACRP) Synthesis

    Transportation Research Board
    500 Fifth Street, NW
    Washington, DC    20001
  • Project Managers:

    Staba, Gail

  • Start Date: 20070301
  • Actual Completion Date: 20080415
  • Source Data: RiP Project 16405

Subject/Index Terms

Filing Info

  • Accession Number: 01462686
  • Record Type: Research project
  • Source Agency: Transportation Research Board
  • Contract Numbers: Synthesis11-03, Topi
  • Files: TRB, RiP, USDOT
  • Created Date: Jan 3 2013 2:08PM