Airport pumps $15.4B into region
Airport pumps $15.4B into region, new study shows
Regionally, the airport pumps $15.4 billion into the area while supporting 96,300 full-time jobs with average annual earnings greater than $50,000 and a total annual earnings of $4.8 billion.
Philadelphia International Airport employs thousands of Delaware County residents and has a $3.6 billion economic impact on the county, based on figures released in a report earlier this week.
Entitled “Regional Economic Impact of Philadelphia International Airport,” the analysis completed by Econsult Solutions of Philadelphia was meant to gauge the facility’s progress. It’s intended to be repeated every two to three years.
It evaluated how the airport generates economic impact in monetary figures and through employment both regionally and in specific counties.
In Delaware County, the study determined that the airport generates more than $3.6 billion in output to the county while employing 23,750 county residents, Of those, 3,420 are badged employees or 17 percent of the badged workforce at Philadelphia International.
Regionally, the airport pumps $15.4 billion into the area while supporting 96,300 full-time jobs with average annual earnings greater than $50,000 and a total annual earnings of $4.8 billion. It also generates $78 million in annual taxes to the city of Philadelphia and $255 million in taxes to the state of Pennsylvania.
These statistics were met with applause by local officials.
“The report by (Econsult) Solutions is very exciting for Delaware County,” Delaware
County Chamber of Commerce President Trish McFarland said. “With twothirds of the airport in our county, we are pleased to see the tremendous impact it has for our economy, business and residents.”
Airport CEO Chellie Cameron also expressed satisfaction with the Econsult findings.
“We are very pleased with these results because they underscore the airport’s central role in the regional transportation network,” Cameron said. “A busy and cost-efficient airport is essential to the health of the regional economy and will help keep Philadelphia competitive. Our non-stop operations to more than 120 destinations connect the region to the rest of the country and the rest of the world, which enable businesses here to thrive and residents to enjoy an enhanced quality of life.”
Served by 25 airlines, Philadelphia International offers about 500 daily departures and serves about 82,000 passengers a day, totaling more than 30 million commercial passengers annually.
American Airlines dominates Philadelphia International’s service, catering to 70.8 percent, or about 21 million, of the airport’s annual passengers.
The Philadelphia airport also reports employing a 55 percent diverse workforce with a racial employee breakdown of 45 percent white; 42 percent African American; 6 percent Hispanic; 5 percent Asian; and 2 percent identified as “other.”
Structurally, the airport itself consists of four runways, seven terminals, various passenger-related facilities such as parking, rental car and ground transportation and a hotel and commercial facilities.
Relatedly, the airport outlined its current and completed projects in the report.
Underway are a $202 million 1,500-feet runway extension for Runway 9R27L; a $43 million new aircraft deicing facility and trucking operation; a $21 million replacement of the air temperature control system; $20 million to replace loading bridges and $10 million for Terminals D and E upgrades.
Finished projects included the $160.6 million Terminal F expansion, complete with new baggage claim area, expanded security, concourse and concessions; the replacement of 38,500-squarefeet of the Terminal A roof for $8 million; and the $122.6 million acquisition of International Plaza and other parcels.
Delaware County Chamber officials welcomed this section of the report.
“Most notably, what I took away from the report, is the findings that Philadelphia International does not need a fifth runway now,” McFarland added. “Great news for Delaware County!”
According to the report’s analysis, regional hotels benefited substantially as well.
Philadelphia reportedly occupied 3,522 daily room nights, to an annual total of more than 1.2 million and Delaware County saw 1,773 rooms filled due to airport activity, totalling almost 650,000 annually.
Both Philadelphia and Delaware counties experienced a hotel occupancy rate of 72.6 percent linked to activity at the Philadelphia International Airport and both had average daily room rates of $125.