T.F. Green Airport Improvement Program - FEIS Chapters - PVD

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T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) EvaluationIndirect Impacts to Housing AffordabilityThe reduction of housing stock as a result of the No-Action Alternative equates to 0.19 percent of the estimatedhousing stock in Kent County in 2006 and 0.36 percent of the estimated housing stock extant in Warwick in2006. If no replacement housing were constructed and if all relocated households settled within Kent County,overall vacancy rates would decrease by 0.18 percentage points in Kent County, holding all other factors equal.This reduction in vacancy rates could be expected to have some indirect impact on housing affordability byraising rents and home prices within the County, albeit only marginally.5.5.4.2 Alternative B2This section summarizes the results of the social and economic impacts analysis for Alternative B2 in 2020, and2025. Social and economic benefits, associated with Alternative B2 include additional jobs, wages, and businesssales associated with the additional aircraft operations and approximately 767,825 passengers annually thatcould be accommodated on the extended Runway 5-23 compared to the No-Action Alternative. These aviationrelatedactivities associated with Alternative B2 would benefit the City of Warwick, surrounding communities,and the State of Rhode Island annually starting in 2020. Social and economic negative impacts associated withAlternative B2 include impacts associated with residential and commercial land acquisition and the associatedloss of property tax revenue.Aviation Activity Impacts – 2020 and 2025The following sections summarize the direct and indirect economic impacts (gains) due to the increased aviationactivity associated with Alternative B2 in 2020 and 2025.Direct Aviation ImpactsUnder Alternative B2, no changes in aviation-related activities are expected in 2015 since the extension ofRunway 5-23 does not come on line until 2020. Direct impacts associated with the extension of Runway 5-23starting in 2020 would include the on-Airport effects of additional aircraft operations and passenger activity.Based on forecast increases of approximately 8,780 operations, and 767,825 passengers, an additional$16.0 million in business activities are expected at the Airport in 2020, increasing to more than $17.5 million by2025. These expenditures would support 223 new jobs, paying over $7.1 million in 2020, and 233 new jobs and$7.4 million in wages by 2025.342 These impacts are even greater when multiplier effects are taken into accountand have an impact on statewide employment, wages, and spending.Indirect Aviation ImpactsIn addition to passenger activity expected under the No-Action Alternative in 2020, approximately 767,825passengers are projected to use T.F. Green Airport as a result of Alternative B2. These additional passengers wouldgenerate off-Airport expenditures in visitor-related industries in addition to the visitor expenditures expectedfrom the No-Action Alternative, including hotels, restaurants and bars, entertainment, retail, and localtransportation. It is anticipated that visitors would spend an additional approximately $12.8 million in the City ofWarwick in 2020 and $13.8 million in 2025, while visitor spending throughout Rhode Island would be nearly$80 million in 2020 and $86.7 million in 2025. This visitor spending is expected to generate an additional 194 jobs in342 Derived from ratios of aviation business that were used for the Airport in the Rhode Island Airport Economic Impact Study - Update 2006.Chapter 5 - Environmental Consequences 5-88 July 2011\\mawatr\ev\09228.00\reports\FEIS_Final_July_2011\PVD_CH05_Environmental_Cons_JUL_2011.doc
T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) Evaluationthe City of Warwick and over 1,108 in the State by 2020. By 2025, visitor spending is expected to support over anadditional 210 jobs in the City of Warwick and over 1,200 statewide, again including economic multiplier effects.Based on the 2020 and 2025 forecasts, the increased airport activity is expected to generate 342 jobs in the City ofWarwick by 2020 and 391 jobs by 2025. The leading sectors would be hospitality (96 jobs in 2020 and 120 by 2025 inaddition to what are expected to support additional visitor spending), technology (44 jobs in 2020 and 47 jobs by2025) and wholesaling (16 jobs in 2020 and 18 in 2025). For the City of Warwick, activity in all sectors would resultin a direct gain of $6.2 million in wages and $20.0 million in business revenues in 2020 and $7.0 million in wagesand $22.7 million in business revenues in 2025. Additional gains would accrue to the City of Warwick throughmultiplier effects, as well as to Rhode Island as a whole. Overall, it is estimated this growth could create additionalproperty tax revenue for the City due to the commercial space demands anticipated (approximately 117,000 squarefeet in 2020 increasing to approximately 134,000 square feet in 2025 based on current vacancy rates).Total Aviation ImpactsAlternative B2 would result in increased aviation activity and would provide opportunities for increasedaviation-related business activity (such as warehouse, repair services, retail services for additional airline andairport employees) and other airport-reliant businesses (such as manufacturers, universities, research anddevelopment organizations and services businesses). Airport-related businesses have located along Post Road as aresult of previous airport expansions. As a result, Post Road has become a major commercial corridor. Theseopportunities for increased business activity would moderate jobs lost due to commercial land acquisitionsassociated with Alternative B2. Table 5-52 summarizes the total economic impacts for Alternative B2.Table 5-52Alternative B2 Aviation Activity: Related Total Economic Impacts (Gains) in the City ofWarwick and State of Rhode Island in 2020 and 2025Alternative B2 - Total Economic Impact (Annual) 1Type of impact 2020 2 2025 3City of WarwickTotal Impacts to JobsTotal Impacts to Personal Taxable IncomeTotal Impacts to Taxable Business RevenueState of Rhode IslandTotal Additional JobsTotal Impacts to Personal Taxable IncomeTotal Impacts to Taxable Business Revenue797$24,908,000$63,328,0001,813$53,104,000$135,998,000873$27,021,000$69,961,0001,967$57,416,000$147,538,000Source: ADE, IMPLAN, Rhode Island Airport Economic Study (Wilbur Smith Associates, June 2006), RIDLT.1 Includes direct and indirect impacts from on-Airport business activities, visitor spending, and development of spin off-Airport-related business in the City.2 Represents the total economic gains (jobs, taxable income and taxable business revenue) generated in 2020 as a result of the Build Alternative.3 Represents the total economic gains, including those already created in 2020 as a result of the Build Alternative (i.e., there would be 76 additional jobs created in2025 over 2020).Chapter 5 - Environmental Consequences 5-89 July 2011\\mawatr\ev\09228.00\reports\FEIS_Final_July_2011\PVD_CH05_Environmental_Cons_JUL_2011.doc
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