Halifax, N.S., Canada, 2013-10-09 — /travelprnews.com/ — Halifax Stanfield International Airport (HSIA) is a valuable provincial asset worth $1.27 billion to the Nova Scotia economy in 2012, according to the latest economic impact report, released today. This represents an additional $13 million in economic output over the previous year.
“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 (HIAA). “Halifax Stanfield is a world-class airport creating prosperity for the people and communities it serves,” he says. “We will continue to propel Halifax Stanfield forward, embracing our role as a major contributor to the region.”
“It’s also noteworthy that Halifax Stanfield’s economic impact reaches out well beyond the urban centres of the province,” says Ruth. “A recent review showed that over 65 per cent of airport community workers live in rural areas or rural communities of Nova Scotia, and their total wages and salaries amounted to nearly $330 million in 2012.”
In 2012, direct employment created by the airport was 5,400 full-time equivalent (FTE) jobs. Major employers at Halifax Stanfield include IMP Group, Air Canada, and Jazz who together employ 2,243 full-time equivalent (FTE) staff or over 40 per cent of the airport’s workforce.
Total wage and salary impact of Halifax Stanfield on the provincial economy was $507.5 million. As well, airport community employees contributed $60.9 million in personal income tax to the province of Nova Scotia and $26.6 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 approximately $475 million in renovation and new construction impacts, generating some 7,975 FTE construction-related jobs and $300 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, vehicle rental firms 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 32 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 2012, they generated an estimated $882 million in revenue or 44 per cent of the province’s estimated $2.02 billion total tourism revenues.
Highlights of the 2012 Economic Impact Study
Total Provincial Benefit as a result of Airport activity:
- $1.27 billion in gross output is generated by airlines, air freight firms, retailers and other companies involved directly and indirectly in the air transportation industry ($1.26 billion in 2011)
- $475 million (since 2000) in renovation and new construction impacts
- The major tourism gateway to Nova Scotia
Wages and Salaries:
- $507.5 million in total salaries and wages
- $221.7 million direct (airport-related activity)
- $122.0 million indirect (generated in a sector that supplies raw materials associated with direct economic activity)
- $163.8 million induced (generated by individuals employed in direct or indirect sectors)
Fiscal Impact:
- Airport community employees pay $60.9 million in personal income tax to the Province of Nova Scotia
- Airport community employees generate $26.6 million in retail sales tax
Employment (full-time equivalent):
- 12,360 jobs are attributable directly and indirectly to the Airport, which accounts for 2.7 per cent of employment in Nova Scotia
- 5,400 direct
- 2,970 indirect
- 3,990 induced
Click here for the full report.