53.7 F
Fort Worth
Tuesday, December 1, 2020
Government Study: D/FW Airport packs $31B economic impact to Dallas-Fort Worth

Study: D/FW Airport packs $31B economic impact to Dallas-Fort Worth

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

A. Lee Graham

Reporter

 

Dallas/Fort Worth International Airport’s economic impact on the Dallas-Fort Worth area exceeds $31 billion each year, according to a new study by the University of North Texas Center for Economic Development and Research.

 

Results see the airport producing almost double the economic impact than previous studies have indicated because it includes airport cargo operations and related business activity not part of previous studies, according to an airport news release. Study findings were presented this week at the Aerotropolis Americas Conference at the Hyatt Regency DFW.

 

“There’s no question D/FW is a major contributor to the Dallas-Fort Worth economy, not only because the airport hosts more than 1,900 flights a day, but because D/FW also creates jobs and economic activity through capital improvement projects such as our Terminal Renewal and Improvement Program,” said Sean Donohue, airport CEO, commenting in a news release.

 

“This study captures in some pretty big numbers how dynamic our airport is in providing valuable growth and opportunities for our citizens,” Donohue said.

 

According to the study, the airport directly or indirectly supports more than 143,000 permanent jobs to North Texas residents, including 60,000 people who work on airport premises every day, yielding more than $9 billion in annual wages, salaries, and benefits.

 

The study also found that airport air cargo operations support $16.7 billion in regional economic activity annually, while business activity and visitor spending associated with airport operations generate more than $1.7 billion annually for state and local taxing jurisdictions. Business tenants at the airport, not including concessionaires located in terminals, generate almost $1.6 billion in regional economic activity each year. 

 

“It’s clear to us that Dallas/Fort Worth International Airport is a key driver of economic success for North Texas,” said Terry Clower, director of the Center for Economic Development and Research at the University of North Texas.

 

“In an increasingly global economy, this critical component of the region’s transportation infrastructure supports business activity through easy access to markets around the world and enhances the quality of life for North Texas residents,” Clower said.

 

D/FW Airport has seen the strongest period of international air service growth in its history in the past three years, according to the airport news release. It added 20 new destinations, 17 of them new international destinations, along with 26 new international flights, seven new airline carriers. The airport has attracted more than $1 billion in new annual economic activity for the North Texas region as a direct result of that air service expansion.

 

To create the DFW impact study, the University of North Texas used the IMPLAN economic input-output model developed by MIG Inc., which tracks how spending flows through the economy. The IMPLAN model is widely used in academic and professional economics research. 

 

lgraham@bizpress.net

 

 

 


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Alto partners with Toys for Tots as ‘On Demand’ Santa returns

Alto announces partnership With Toys For Tots, return of on-demand Santa Alto, a Dallas-based rideshare and delivery company, has announced it will partner with national...

A&M System Regents OK Tarleton Analytical Policing Institute

The Texas A&M University System Board of Regents has approved creation of Tarleton State University’s Institute for Predictive and Analytical Policing Sciences, a part...

U.S. Supreme Court leery of Trump’s bid to exclude undocumented immigrants from congressional reapportionment

Some Supreme Court justices on Monday seemed skeptical of President Trump’s claim he has the authority to exclude undocumented immigrants from population totals when...

Despite staggering pandemic losses, Texas budget forecast better than expected, state comptroller says

Despite “historic declines,” state lawmakers will have more money to work with in the upcoming legislative session than Comptroller Glenn Hegar expected over the...

GM walks away from stake in electric vehicle maker Nikola

NEW YORK (AP) — General Motors will not take an initial stake in the electric vehicle company Nikola, which announced Monday that it would...