By JENALIA MORENO
October 15, 2011
Economic effects of Houston’s three airports:
The city’s three airports generated $27.6 billion for the area’s economy last year, according to a new report.
The Houston Airport System recently completed the economic impact analysis of Bush Intercontinental, Hobby and Ellington airports, the first such study since 2003, when the airports pumped $24.2 billion into the economy.
The study attributed the higher numbers to growth of airline flights at Hobby and Bush Intercontinental.
“Southwest and United and Continental have really increased their operations,” said Kirk Rummel, chief financial officer of the Houston Airport System, who presented the findings to a Greater Houston Partnership aviation committee Friday morning.
Directly, the airports employ 47,456 and generate $8.7 billion in earnings from passenger, cargo, government and private air transportation business.
In addition, the study calculated $18.9 billion in indirect economic effects resulting from spending by air visitors, and induced effects – spending by recipients of direct and indirect spending.
The airport with the largest 2010 economic impact was Bush, which generated $22.5 billion. The numbers were $4.5 billion for Hobby and $641.1 million for Ellington.
The study was conducted through surveys sent to 350 airport stakeholders, including airlines.
“We like to periodically take the temperature and have a fresh number to remind people how valuable we are,” Rummel said.
Source: HOUSTON CHRONICLE