NEWS: Airport economic impact nearly doubles in five years, says Division of Aeronautics report

Airport delivers more jobs, puts $2.1 billion into local and state economy

FOR IMMEDIATE RELEASE
Feb. 11, 2020 

ENGLEWOOD, Colo. – Today, Centennial Airport announced that, in just more than five years, its economic contribution to the state’s economy nearly doubled at $2.1 billion, up from $1.32 billion, according to the 2020 Colorado Division of Aeronautics Airport Economic Impact Report.

“Centennial Airport has taken a unique approach to its relationships with the industry, business partners, tenants, and the community,” said Centennial Airport Chief Executive Officer Robert Olislagers. “A little more than five years ago, this airport set out to position itself as not just another general aviation airport, but as a valued business partner, and we are pleased to see the results of this effort in this year’s Airport Economic Impact Report.”

Centennial Airport
ECONOMIC IMPACT Growth 1998 - 2020

 

Jobs

Payroll

Business Revenue/Impact*

1998 Impact Study

4,586

$97 Million

$312.4 Million

2003 Impact Study

8,594

$331 Million

$815.1 Million

2008 Impact Study

10,458

$356.6 Million

$897.1 Million

2013 Impact Study

6,792

$404.9 Million

$1.32 Billion

2020 Impact Study**

10,341

$593.5 Million

$2.1 Billion


“The Division of Aeronautics is proud to partner with Centennial Airport and 73 other public-use airports as we work statewide to support aviation and airports as a key part of Colorado’s multi-modal transportation system,” said CDOT Aeronautics Director David Ulane. “The increased economic impact at Centennial is echoed statewide, underscoring the importance and value of general aviation across all of Colorado.”

“We transformed ourselves from a transactional role to a strategic role—from being a landlord to being a strategic partner,” said Olislagers. “These numbers certainly indicate we’re on the right track.”

The aviation sector’s direct impact on Colorado’s overall economy has also grown, seeing a 32-percent increase over 2013.

Aviation Total Statewide
ECONOMIC IMPACT Growth 2013 – 2020

 

Jobs

Payroll

Multiplier Effect/Value Added

Business Revenue/Impact*

2013 Impact Study

265,700

$12.6 Billion

$15.6 Billion

$36.7 Billion

2020 Impact Study**

345,661

$16.2 Billion

$27 Billion

$48.6 Billion


When possible, the Division of Aeronautics conducts the Colorado Aviation Economic Impact study every five years. The study evaluates the economic impacts of on-airport businesses and activities and other spin-off or multiplier impacts (both indirect and induced) of airports throughout Colorado. Economic impacts are estimated for each individual airport included in the study, as well as for the state’s aviation system as a whole, updating the prior results published in 2013.


2013 – 2018 COMPARISON CENTENNIAL AIRPORT

 

On-Airport Activity

Visitor Spending

Total

2013 Jobs

5,825

964

6,792

2018 Jobs

9,157

1,184

10,341

 

     

2013 Payroll

368,964,000

$35,976,000

$404.9 Million

2018 Payroll

$550,436,000

$43,101,000

$593.5 Million

 

     

2013 Value Added

$496,539,000

$40,233,000

$536.7 Million

2020 Study Value Added**

$902,171,000

$72,324,000

$974.5 Million

 

     

2013 Business Revenue

$1,222,370,000

$99,743,000

$1.32 Billion

2020 Study Business Revenue**

$1,961,507,000

$125,675,000

$2.1 Billion

 

*2013 and 2020 CDOT/DOA Airport Economic Impact Report
**Numbers used for the 2020 Economic Impact Report were from the calendar year 2018
*
2013 CDOT/DOA Airport Economic Impact Report


The study communicates the benefits of airports, both quantitative and qualitative, and validates the continued public investment in Colorado’s airport system. This final product includes a compilation of real-life stories that illustrate how aviation impacts the state’s businesses and communities, beyond providing impact numbers.

One of 56 general aviation airports in the state, Centennial Airport, is one of the busiest airports in the nation, with more than 350,000 take-offs and landings in 2019.

The Division of Aeronautics states the complete Colorado Aviation Economic Impact Report is expected in April.


To learn more about the study and the methodology used, please visit: www.coloradoaviationsystem.com/wp-content/uploads/2020/01/CEIS_Methodology-Tech-Memo-2-FINAL.pdf


Media Contacts:

Deborah Grigsby Smith, MPIO
Public Information Officer, Centennial Airport
720-272-4992 | This email address is being protected from spambots. You need JavaScript enabled to view it.

David Ulane
Director, Colorado Division of Aeronautics
303-512-5254 | This email address is being protected from spambots. You need JavaScript enabled to view it.

About Centennial Airport

Centennial Airport (APA) is one of the busiest general aviation airports in the United States, with more than 344,000 operations each year. Located just minutes from downtown Denver, Centennial Airport is home to four award-winning FBOs and surrounding corporate office parks and businesses that generate more than $2 billion in economic impact. Centennial Airport is a 13-time winner of the Balchen/Post Award, a national honor recognizing excellence in airport snow and ice removal. For more information, visit www.centennialairport.com.

About the Colorado Division of Aeronautics

The mission of the CDOT Division of Aeronautics is to support Colorado's multi-modal transportation system by advancing a safe, efficient, and effective statewide air and space system through collaboration, investment, and advocacy. For more information, visit www.codot.gov/programs/aeronautics.


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