| Abstract: | Knowing the current economic impact of an airport is critical to both airport sponsors and the Texas Department of Transportation (TxDOT). While TxDOT periodically commissions a statewide economic impact study, the ability to provide updated or more precise economic impact values to airport sponsors and other stakeholders is needed. Having updated and current numbers is important because many local officials use the airport's economic impact values to justify airport investment. Researchers built the input/output model using IMPLAN multipliers, visitor spending data from the Texas Governor's Office, Terminal Area Forecast data from the Federal Aviation Administration, and the latest available data from the recently completed statewide economic impact study of Texas airports. The web tool, called the Small Airport Economic Impact Estimator, takes the model and provides an interface for users to calculate the economic impact of the airport of their choice. The user has the option to calculate using the default data or provide new inputs based on his or her knowledge of current conditions. The Small Airport Economic Impact Estimator Tool provides a resource for airport managers, planners, and local officials. As economic conditions change and the airport develops, the Estimator provides up-to-date economic impact numbers that can support grant applications and local funding matches, as well as attract new development. In addition, the Estimator can estimate economic impacts that may be realized if certain improvements are made that increase airport activity. |
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