Airport Worth $1.26 Billion to Provincial Economy in 2011
Halifax, N.S. – 2012-10-24 — /travelprnews.com/ — Halifax Stanfield International Airport (HSIA) is a valuable provincial asset worth $1.26 billion to the Nova Scotia economy in 2011, according to an economic impact report released today.
“Together, the Airport Authority and all of our airport partners have a tremendous impact on Halifax and the province as an economic generator and growth enabler,¨ says Tom Ruth, President & CEO, Halifax International Airport Authority. “Even in the face of global economic challenges, Halifax Stanfield continues to play an important role as an employer and contributor to the Nova Scotia economy, growing in value by $11 million over 2010,¨ he says.
“It’s also noteworthy that Halifax Stanfield’s economic impact reaches out well beyond the urban centres of the province,¨ says Ruth. “Based on 2010 figures, about two-thirds of airport community workers live in rural areas of Nova Scotia, and their total wages and salaries amount to over $325 million.¨
In 2011, direct employment created by the airport was 5,260 full-time equivalent (FTE) jobs. Major employers at Halifax Stanfield include IMP Group, Air Canada, and Jazz who together employ 2,096 full-time equivalent (FTE) staff or almost 40 per cent of the airport¡¦s workforce.
Total wage and salary impact of Halifax Stanfield on the provincial economy was $480.6 million. As well, airport community employees contributed $57.7 million in personal income tax to the province of Nova Scotia and $25.3 million in retail sales tax.
The report, conducted by Chris Lowe Planning and Management Group, states that since operational transfer of the airport from the federal government in 2000, HIAA and airport tenants have contributed over $450 million in renovation and new construction impacts, generating some 7,565 FTE construction-related jobs and $284 million in wages and salaries. These projects represent over 70 per cent of airport-related capital improvements in Atlantic Canada.
The study confirms that the Halifax Stanfield community – made up of airlines, aerospace, air freight firms, the Airport Authority, retailers, restaurants, and other companies supporting the air transportation industry – is a major economic, fiscal and employment generator for the Halifax Region and Nova Scotia.
“Air travellers are a significant component of the province’s tourism industry,¨ adds Ruth.
Visitors by air represent 34 per cent of all tourists to Nova Scotia, and they stay longer and spend more than tourists who arrive by other modes of travel. In 2011, they generated an estimated $675 million in revenue or 37 per cent of the province¡¦s estimated $1.82 billion total tourism revenues. Between 2010 and 2011, visitation by air grew by nine per cent – one of the few modes of transportation to show an increase.
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, and Europe. 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 $1.26 billion to the provincial economy, welcomes almost 3.6 million passengers annually, gives back through its Community Outreach Program and its Signature Partnership with Habitat for Humanity, and is an internationally recognized leader in customer service, having been rated the Best Airport in the World in its class for seven of the past nine years and certified as Airport Service Quality Assured – an industry benchmark of service excellence.
Highlights of the 2011 Economic Impact Study
Total Provincial Benefit as a result of Airport activity:
– $1.26 billion in gross output is generated by airlines, air freight firms, retailers and other companies involved directly and indirectly in the air transportation industry ($1.249 billion in 2010)
– $450 million (since 2000) in renovation and new construction impacts
– The major tourism gateway to Nova Scotia
Wages and Salaries:
$480.6 million in total salaries and wages
– $209.9 million direct (airport-related activity)
– $115.4 million indirect (generated in a sector that supplies raw materials associated with direct economic activity)
– $155.3 million induced (generated by individuals employed in direct or indirect sectors)
Fiscal Impact:
– Airport community employees pay $57.7 million in personal income tax to the Province of Nova Scotia
– Airport community employees generate $25.3 million in retail sales tax
Employment (full-time equivalent):
12,040 jobs are attributable directly and indirectly to the Airport, which accounts for 2.7 per cent of employment in Nova Scotia
– 5,260 direct
– 2,890 indirect
– 3,890 induced
Click here to view the full report.
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