Economic impacts from Colorado airports tops $32.2 billion

The Colorado Department of Transportation (CDOT), Division of Aeronautics, released the results of its latest economic impact study for commercial and general aviation airports on May 22. The 2008 Economic Impact Study concluded that on-airport businesses, aviation services and spending by visitors who arrive in Colorado by air are contributing an estimated $32.2 billion into Colorado’s economy on an annual basis. This estimate is up from $23.5 billion in 2003.

The Colorado airports and visitor spending combined, support 340,786 jobs. In addition, there are another 313,100 value-added jobs in the private sector that in some way depend on the airport system. These 653,886 jobs have an annual payroll estimated at $24.8 billion. The annual payroll that can be traced to Colorado commercial and general aviation airports represents approximately 28 percent of the state’s total annual payroll.

Each year, airports and visitors who arrive via the state’s airports contribute an estimated $1.7 billion in state and federal taxes. Survey results show that over 70 percent of the state’s businesses indicate the ability to travel by commercial airlines is important to them and 53 percent rely on transportation supported by general aviation. Over 90 percent of Colorado’s employers rely on air cargo to ship and receive goods and supplies, with 20 percent of these businesses shipping to international destinations.

Airports in Colorado are not just about safe and efficient transportation, they are critical to Colorado's economy and to supporting a life style that is attractive to residents, businesses, and visitors.

"The economic benefits measured in the CDOT study are realized in state, regional, and local economies each year. These benefits are sustainable, and they can continue to grow," said Travis Vallin, CDOT director of Aeronautics. "Commercial and general aviation airports can continue to be major economic contributors if they are protected and if investment is made as needed to accommodate growth. Clearly, the importance of aviation as an underpinning for the State's economy is significant. Airports are not only vital to transportation, but they are also essential economic resources for Colorado."