Thursday, October 23, 2014

Archives

         

Archives

5/10/2011

ACY RELEASES RESULTS OF 2010 ECONOMIC IMPACT ANALYSIS


May 9, 2011


ACY RELEASES RESULTS OF 2010 ECONOMIC IMPACT ANALYSIS

Over 850 Jobs Added to the Region and Millions in Increased Tax Revenue

Egg Harbor Township, NJ – Atlantic City International Airport is an economic force in southern New Jersey. The airport today released the findings of an economic impact study that found a 37% increase in overall economic activity generated by the airport from 2007 to 2010. In addition, increases were found in each category including tax revenue, employment, visitors and visitor spending.

Researched and produced by the Center for Regional and Business Research at Atlantic Cape Community College, the 2010 report is a follow-up to a similar study that was conducted for the airport in 2008 based on 2007 activity. The study quantifies the economic activity that resulted from expenditures related to ACY such as visitor spending, airport operations, retail vendors and costs and capital investments, and found a growth greater than one-third since 2007, which directly affects employment and tax revenue.

“This report illustrates the importance of opening up the region to new markets of tourists and visitors and expanding the capacity of Atlantic City International which we have succeeded in doing since the initial study was conducted in 2008,” said Bart R. Mueller, executive director of the South Jersey Transportation Authority, the owner and operator of the airport.

Employment is a major factor in the airport’s role as an economic driver in the region, and the report found an increase of over 850 or 26% in airport-specific jobs. Over 4,000 regional full-time jobs were created and paid out in excess of 138 million dollars in wages and salaries.
Aviation–related activities on the airport property are responsible for over 11,000 jobs, including those of the Federal Aviation Administration Tech Center, New Jersey Air National Guard 177th Fighter Wing, United States Coast Guard Air Station/Atlantic City and the Transportation Security Agency Federal Air Marshall national training center.

Increased activity at the airport since 2007 was responsible for a nearly 37% boost in tax revenue, bringing the total to $22.4 million. Payroll taxes and retail, recreational and leisure activities were included in this category.

Visitors to the region arriving by air increased significantly from 2007 to 2010, up 21.5%. The study found that over 40% of passengers who deplaned are not residents of the region.

Passenger traffic at the airport was up 31% in 2010 over the previous year and first quarter 2011 counts indicate that the trend will continue in 2011.

“Increased air service has attracted more visitors overall and first-time visitors from markets that now have access to Atlantic City by air, including non-stop flights from Atlanta and Boston and an array of one-stop flights from cities across the U.S.,” said Mueller.

Additionally, the report found that using ACY as a departing and arriving airport resulted in saving nearly ten driving miles, which reduces the carbon footprint of travelers.

The purpose of the analysis is to demonstrate the benefits of public investment and spending to the region. These indicators help provide tax payers and decision-makers with tangible measures of the benefits of policies and projects undertaken by the public sector. The original report was completed in June 2008 in compliance with the economic analysis suggested by the U.S. Department of Commerce, Bureau of Economic Analysis.

To view a copy of the report, please visit http://www.sjta.com/sjta/annual_report.asp
and click on 2011 Economic Impact Study. For more information about the Atlantic City International Airport, its carriers, and for a map of all the destinations, visit www.acairport.com.

###

About Atlantic City International Airport
Atlantic City International Airport (ACY) is located in the heart of southern New Jersey in Egg Harbor Township and twelve miles from Atlantic City. Owned and operated by the South Jersey Transportation Authority, ACY sits on 5,300 acres of land and is a joint use airport. Today, ACY serves over 1.4 million passengers annually but projects significant increases as air service development initiatives attract new carriers and new air service routes. The FAA’s William J. Hughes Technical Center is located adjacent to the airport site and houses the U.S. Department of Homeland Security Transportation Security Laboratory. ACY is home to the Air National Guard, the 177th Fighter Wing “Jersey Devils” and the U.S. Coast Guard. For more information, visit www.acairport.com.

Return to Listing