March 30, 2010
JOHN WAYNE AIRPORT CAPITAL IMPROVEMENT PROGRAM GENERATES MUCH NEEDED JOBS AND ECONOMIC BENEFITS
SANTA ANA, Calif. - According to a recent review conducted by the Orange County Business Council, John Wayne Airport’s Capital Improvement Program (CIP) will create 6,670 jobs and a total economic effect (direct, indirect and induced) of more than $1 billion.
"A major goal for Orange County is to develop infrastructure as a priority with an eye for economic development growth," says Dr. Wallace Walrod, Vice President of Economic Development and Research for the Orange County Business Council. "As demonstrated in our analysis, John Wayne Airport’s Capital Improvement Program is a driving catalyst to create good paying jobs, stimulate the local economy, and drive economic growth for America’s fifth largest county."
"It is gratifying to know that not only are we able to bring much-needed improvements to Orange County’s only commercial service airport, but at the same time we are making a positive contribution to the local economy and job market," said Alan L. Murphy, Airport Director.
Pictured in the center of the photo is the Terminal C construction site. At the bottom left is the site of Parking Structure C and at the bottom right is the construction site of the Central Utility Plant.
When complete in 2011, Terminal C will encompass 282,000 square-feet and house six passenger gates plus new concessions and amenities for passengers. Parking Structure C will accommodate 2,200 additional vehicle parking spaces.
The analysis, conducted at the Airport’s request, was based on the Airport’s expenditure of $543 million on the planning, design and construction of a new Terminal C, Parking Structure C, Central Utility Plant and related improvements. The CIP does not rely on general fund tax dollars, but is being funded through a variety of sources including internal airport revenues and bonds.
OCBC’s analysis also found that for every $1 invested in the CIP, more than $2 will be circulated back to the local economy. Spending on the CIP will peak at about $200 million in 2010, resulting in nearly $400 million in output to the economy and nearly 40% of the total jobs created overall.
The Orange County Business Council used two economic impact models in the analysis to ensure the accuracy of the results: (1) the IMPLAN Professional Economic Impact Analysis Model (Version 2); and (2) the Regional Input-Output Modeling System (RIMS II) Economic Impact Analysis Model.
For more information, contact:
Orange County Business Council
(949) 794-7221 or email@example.com
Courtney C. Wiercioch
John Wayne Airport
(949) 252-5166 or firstname.lastname@example.org
John Wayne Airport is a self-supporting enterprise owned and operated by the County of Orange. The Airport serves about nine million passengers annually.
The Orange County Business Council represents and promotes the business community, working with government and academia, to enhance Orange County’s economic development and prosperity in order to preserve a high quality of life.
Direct Impact is the output, earnings and employment generated by businesses and government associated with the CIP.
Indirect Impact is the output, earnings and employment created by businesses which are not located within the airport but who rely on the airport for their enterprise.
Induced Impact is the additional activity created in the economy by successive rounds of local spending, which stems from the Direct and Indirect Impacts.