Posted on: 30 July 2019 by Chloe Greenbank
According to the Florida Department of Transportation’s (FDOT) 2019 economic impact study, Daytona Beach International Airport generates $2.1 billion in economic impact for the region annually.
FDOT factored in both direct and indirect economic impacts in four primary categories to reach its conclusion. The categories included: on-airport activity; visitor spending; industry reliance; and military spending. A carefully crafted multiplier was also used to accurately measure the recirculation and multiplication of funds through the economy. This means the figure not only considers the dollars generated from flights in and out of Daytona, but also dollars spent in the community by visitors originating as airport passenger traffic. Payroll tied to employment centres based on the airfield was also taken into account, as was the impact of Embry-Riddle Aeronautical University.
“A critical, yet sometimes unknown, aspect of the economic impact our airport provides to our community extends beyond air services,” said Jay Cassens, director of business development at the airport. “While the airport’s primary goal is to serve the travelling public, it also generates a tremendous amount of local economic activity through the airport owned properties. Our airfield properties provide essential access and support for several aviation service facilities, corporate hangars and several renowned flight training schools.”hangars and several renowned flight training schools.”
The 2019 figure has almost doubled since the previous survey in 2014, which reported the airport’s economic impact at $1.1 billion.