John Wayne Airport Capital Improvement Program Generates Much Needed Jobs and Economic Benefits
The Orange County Business Council (OCBC) recently completed an analysis of the economic benefits resulting from John Wayne Airport’s Capital Improvement Program (CIP). The results are exciting for both the Airport - and for Orange County. According OCBC, the Airport’s CIP will create 6,670 jobs and a total economic effect (direct, indirect and induced) of more than $1 billion. “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.
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.
To view the Economic Impact Analysis, visit http://www.ocair.com/newsandfacts/reports/JWACIPEconomicImpact-2010.pdf.