The Craig Chamber of Commerce Ambassadors invite the business community to a Business After-Hours Mixer hosted by the Holiday Inn of Craig, Total Entertainment, KRAI and 55 Country. The mixer will take place from 5 to 7 p.m. Thursday at the Holiday Inn of Craig. RSVP to Shannon at 970-824-5689 or email at firstname.lastname@example.org. This is a free event.
State airport system yields big business
An economic impact study recently released by the Colorado Department of Transportation’s Division of Aeronautics has shown that the state’s commercial and general aviation airports are a major economic generator for the state, according to a press release.
The study, which was conducted by Colorado aviation consulting firms ICF SH&E, Jviation and Kramer Aerotek Inc., states that Colorado airports create the following economic impacts:
■ 265,700 jobs statewide
■ Payroll of $12.6 billion annually
■ Total economic output of $36.7 billion
Those numbers put Colorado’s airports among the state’s top economic generators along with the agriculture, tourism, energy, high tech and communications sectors.
The 2013 study examined all phases of airport spending and economic multipliers to calculate economic impact, including airport administration and employment, airport tenants, airport capital investment, visitor spending, air cargo, tax revenues and directly related off-airport employment.
According to the study, Hayden’s Yampa Valley Regional Airport employs 3,034 people, has an annual payroll of $104,934,790 and has an annual output of $299,330,000.
Yet a significant amount of the economic activity is generated by Colorado’s 14 commercial airline service airports. The largest is Denver International Airport, which has a payroll of more than $8.5 billion annually and generates a total economic output of more than $26 billion each year. Colorado Springs Municipal Airport has a total payroll of $1.75 billion and a total economic output of nearly $3.7 billion annually.
The study also clearly shows the economic impact of the state’s general aviation airports, which range in size from Centennial and Rocky Mountain Metropolitan airports, both located in the Denver area, to individual community airports in all parts of the state. Total economic output at these airports ranges from $1.3 billion at Centennial Airport to several thousand dollars at smaller rural airports. Some of these smaller airports, such as Hopkins Field at Nucla in western Montrose County and Springfield Municipal Airport in far southeastern Colorado, are large economic generators. Hopkins Field employs nine people and has a total economic output approaching $1 million per year; Springfield Municipal Airport employs eight and its total economic output exceeds $1 million annually.
For an economic picture of all 76 of Colorado’s public use airports and their impacts on Colorado, access a reader-friendly version of the economic study by logging on to www.colorado-aeronautics.org and clicking on the 2013 Economic Impact Study link in the Quick Links list to the left.