24/7 Operations Contribute $1.3 Billion to Provincial Economy in 2014
Halifax, N.S., 2015-10-23 — /Travel PR News/ — Halifax Stanfield International Airport is a valuable provincial asset worth $1.3 billion to the Nova Scotia economy in 2014, according to the latest economic impact report, released today. This represents an additional $23 million in economic output over the previous year.
“With our ability to operate 24/7, the airport creates jobs; moves people, goods and ideas; and is one of the most critical pieces of transportation infrastructure in Atlantic Canada,” says Joyce Carter, President & CEO, Halifax International Airport Authority (HIAA). “Together, the Airport Authority and all of our airport partners have a tremendous positive impact on Halifax and the entire province as an economic generator and growth enabler.”
HIAA and airport tenants have contributed to the Nova Scotia economy approximately $575 million in renovation and new construction impacts, since operational transfer of the airport from the federal government in 2000, generating some 9,075 full-time equivalent (FTE) construction-related jobs and $359 million in wages and salaries, says the report, produced by Chris Lowe Planning and Management Group. These projects represent over 70 per cent of airport-related capital improvements in Atlantic Canada.
“These investments are a clear indication of our confidence in the future and we certainly have reason for optimism,” says Carter. “Buoyed by the call to action in the One Nova Scotia Report, we believe there is no better time than right now to be aggressive in our pursuit of new opportunities. A successful airport is the backbone of business, the heart of a community, and the lifeblood of prosperity.”
In 2014, direct employment created by the airport was 5,725 full-time equivalent (FTE) jobs. Major employers at Halifax Stanfield include IMP Group, Air Canada, and Jazz who together employ 2,288 full-time equivalent (FTE) staff or 40 per cent of the airport’s workforce.
Total wage and salary impact of Halifax Stanfield on the provincial economy was $600.8 million. As well, airport community employees contributed $63.1 million in personal income tax to the province of Nova Scotia and $31.6 million in retail sales tax.
The study confirms that the Halifax Stanfield community – made up of airlines, aerospace, air freight firms, the Airport Authority, retailers, restaurants, vehicle rental firms and other companies supporting the air transportation industry – is a major economic, fiscal and employment generator for Halifax and Nova Scotia.
“Air travellers are a significant component of the province’s tourism industry,” adds Carter. Visitors by air represent 34 per cent of all tourists to Nova Scotia, and they tend to stay longer and spend more than tourists who arrive by other modes of travel. In 2014, they generated an estimated $915 million in revenue or over 45 per cent of the province’s estimated $2 billion total tourism revenues.
Since opening in 1960, over 107 million passengers have been served by Halifax’s international airport.
Halifax Robert L. Stanfield International Airport is Atlantic Canada’s principal full-service airport providing passengers and cargo clients with access to markets across Canada, the United States, the Caribbean Basin, Europe, and Asia. It’s the only airport in Atlantic Canada to offer Canada Customs services on a 24 hour, seven day a week basis, and U.S. preclearance. The Airport, a major economic generator valued at over $1.3 billion to the provincial economy, annually serves over 3.6 million passengers and processes more than 32,000 metric tonnes of cargo. A recognized innovator in the global airport industry, Halifax Stanfield is the first airport in North America to offer a self-service baggage drop system for all passengers and is consistently ranked among the best airports in the world.
Highlights of the 2014 Economic Impact Study
Total Provincial Benefit as a result of Airport activity:
- $1.315 billion in gross output is generated by airlines, air freight firms, retailers and other companies involved directly and indirectly in the air transportation industry ($1.292 billion in 2013)
- $575 million (since 2000) in renovation and new construction impacts
- The major tourism gateway to Nova Scotia
Wages and Salaries:
$600.8 million in total salaries and wages
- $258.7 million direct activity (airport-related activity)
- $195.5 million indirect activity (generated in those sectors that supply inputs associated with direct economic activity)
- $146.6 million induced activity (generated by individuals employed in direct or indirect sectors)
Fiscal Impact:
- Airport community employees pay $63.1 million in personal income tax to the Province of Nova Scotia
- Airport community employees generate $31.6 million in retail sales tax to the Province of Nova Scotia
Employment:
13,295 full-time equivalent (FTE) direct and spinoff jobs are attributable directly and indirectly to the Airport, which accounts for 3 per cent of employment in Nova Scotia
- 5,725 direct
- 4,325 indirect
- 3,245 induced
Click here for the full report.
SOURCE: HIAA