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| Oct. 2 / 06 |
Airport authority releases results of economic impact study |
The Gander International Airport Authority today released findings of an economic impact study undertaken by InterVISTAS Consulting Inc. The study measured employment and spending related to the airport as it pertains to jobs, wages and economic output.
An assessment of direct economic impacts found that the airport sustains 1,200 jobs in the province, with $107 million in gross domestic product, $312 million in economic output and $70 million in wages.
The study also considers indirect and induced impacts, which include downstream industries that result from the presence of the airport such as suppliers and contractors, as well as employment generated by spending from individuals employed directly or indirectly by the airport. The study found that total economic impacts were 2,382 jobs, $136 million in wages, $201 million in GDP and $536 in economic output.
Employees at the airport and related firms earned, on average, $61,294 per person year of employment. Moreover, 96% of jobs attributable to airport operations are full-time positions and 98% are permanent jobs.
Ongoing economic activity at the airport contributes $32 million annually in tax revenue, including $20.6 million to the federal government, $10.7 million to the provincial government and $0.8 million to the municipal government.
"The study findings were as we expected - that the airport makes a considerable contribution to local employment and the provincial economy," stated Gary Vey, President and CEO of the airport authority. "The airport is a source of stable, year-round employment for the regional economy, a major tax contributor and a significant engine that creates great benefit in the economy. To place the findings in some context, almost 25% of all jobs in Gander are directly attributable to airport operations and they receive wages that are, on average, $20,000 more than the average full-time employment rate in Gander."
The study was undertaken through a survey of 39 businesses located at the airport and other businesses directly linked to the airport. There was a 100% response rate among businesses surveyed.
For further information, please contact:
Gary Vey, President and CEO
(709) 256-6668
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