Here - Chicago Executive Airport
Here - Chicago Executive Airport
Here - Chicago Executive Airport
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<strong>Chicago</strong> <strong>Executive</strong> <strong>Airport</strong> Economic Impact Study–2007 Page 3-5<br />
The general aviation visitor impact estimates were derived from a transient pilot survey,<br />
discussions with airport management, corporate tenants, fixed-base-operators and from previous<br />
studies. Of the 87,462 itinerant and air-taxi annual operations (in 2006) at <strong>Chicago</strong> <strong>Executive</strong><br />
<strong>Airport</strong>, there were a total of 43,731 landings (one aircraft operation equals one take-off or one<br />
landing), with an estimated 18,434 (42%) visitor landings. Assuming an average of 3.3 people per<br />
aircraft, the visitor landings translate into a total of 61,026 annual General Aviation visitors in<br />
2005.<br />
Many of these General Aviation visitors (22,292 or 37%) involve people who stay in the region for<br />
less than an entire day. These visitors fly into <strong>Chicago</strong>-land area, conduct business and depart<br />
the same day. The other 36,614 General Aviation visitors (63%) are people who stay in the<br />
region overnight. It is estimated that the average length of stay of the General Aviation visitor at<br />
<strong>Chicago</strong> <strong>Executive</strong> <strong>Airport</strong> is 2.0 days, with an average daily expenditure of $233 per day.<br />
Combined, the regional visitor expenditures (food, lodging, entertainment, etc.) made by<br />
passengers and pilots who arrive at <strong>Chicago</strong> <strong>Executive</strong> <strong>Airport</strong> via general aviation aircraft total<br />
$17.7 million annually.<br />
3.3 Multiplier and Total Impacts<br />
The “direct” and “indirect” economic impacts represent final demand increases in the airport<br />
impact area. Such “final demand” increases, however, do not represent the total economic impact<br />
value attributable for the <strong>Chicago</strong> <strong>Executive</strong> <strong>Airport</strong>. Rather, a “multiplier” effect also exists from<br />
the respending of these final demand expenditures through the local economy.<br />
As shown at the beginning of this Chapter (see Exhibit 3-1), an aviation-related multiplier impact<br />
of $185.0 million is generated from the combined direct and indirect impacts. In total, the aviation<br />
related impacts are $330.8 million in economic activity, with $124.2 million in earnings paid to the<br />
2,426 jobs. These direct, indirect and multiplier impact types are presented by impact measure<br />
(i.e., output, income and jobs) in Exhibit 3-4.<br />
Exhibit 3-4<br />
Impact Breakdown by Measure and Type<br />
<strong>Chicago</strong> <strong>Executive</strong> <strong>Airport</strong> Economic Impact Study<br />
Impacts Output Income<br />
Output Income Jobs per Job Per Job<br />
Direct $128,075,700 $33,316,100 547 $234,100 $60,900<br />
Indirect 17,673,700 6,999,900 297 $59,600 $23,600<br />
Multiplier 185,026,800 83,907,800 1,583 $116,900 $53,000<br />
Total $330,776,200 $124,223,800 2,426 $136,300 $51,200<br />
Source: Wilbur Smith Associates use of IMPLAN<br />
The typical direct at-airport job is high paying. Impact comparison suggests that every direct job<br />
generates an estimated $234,100 in output with an average salary of $60,900. Comparatively,<br />
every indirect job typically pays much less ($23,600).<br />
Wilbur Smith Associates November 2007
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