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Economic Impact Study Update Technical Report November 2012

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Economic Impact Study Update Technical Report November 2012 COLUMBUS REGIONAL AIRPORT AUTHORITY Economic Impact Study Update Technical Report November 2012 COLUMBUS REGIONAL AIRPORT AUTHORITY ECONOMIC IMPACT STUDY UPDATE November 2012 Prepared for: Prepared by: CDM SMITH 8805 Governor’s Hill Drive, Suite 305 Cincinnati, OH 45249 513-583-9800 Table of Contents Chapter 1: Study Summary Introduction.................................................................................................................................................................................. 1-1 Study Background ...................................................................................................................................................................... 1-1 Study Findings ............................................................................................................................................................................. 1-3 Port Columbus International Airport ........................................................................................................................ 1-3 Rickenbacker International Airport .......................................................................................................................... 1-4 Bolton Field Airport .......................................................................................................................................................... 1-5 Combined Economic Impacts of CRAA Airports ................................................................................................... 1-6 Comparison of CRAA Airports’ 2011 and 2004 Economic Impacts...................................................................... 1-9 Port Columbus International Airport ......................................................................................................................1-10 Rickenbacker International Airport ........................................................................................................................1-10 Bolton Field Airport ........................................................................................................................................................1-11 Conclusion ...................................................................................................................................................................................1-11 Chapter 2: Market Area Overview Introduction.................................................................................................................................................................................. 2-1 Primary Market Area ................................................................................................................................................................ 2-1 Secondary Market Area ........................................................................................................................................................... 2-2 Columbus MSA Socioeconomic Overview........................................................................................................................ 2-3 Population ............................................................................................................................................................................. 2-3 Employment ......................................................................................................................................................................... 2-4 Per Capita Personal Income .......................................................................................................................................... 2-6 Summary ....................................................................................................................................................................................... 2-7 Chapter 3: Study Approach Introduction.................................................................................................................................................................................. 3-1 The Economic Modeling Process ......................................................................................................................................... 3-1 Data Requirements for the Economic Modeling Process .......................................................................................... 3-3 Surveys, Data Collection Methods, and Model Assumptions ................................................................................... 3-4 On-Airport Tenants ........................................................................................................................................................... 3-4 Commercial Service Visitors ......................................................................................................................................... 3-6 General Aviation Visitors ................................................................................................................................................ 3-8 Select Off-Airport Businesses within the Rickenbacker Inland Port with Ties to the CRAA ............. 3-9 Construction Impacts .....................................................................................................................................................3-10 Study Multipliers – Multiplier Impacts ...........................................................................................................................3-11 Summary .....................................................................................................................................................................................3-12 i • Columbus Regional Airport Authority Economic Impact Study Chapter 4: Employment, Payroll, and Output Impacts for CRAA Airports Introduction.................................................................................................................................................................................. 4-1 Airport Locations and History .............................................................................................................................................. 4-1 Airport Overview – Port Columbus International Airport ....................................................................................... 4-3 Major On-Airport Tenants.............................................................................................................................................. 4-4 Airport Overview – Rickenbacker International Airport .......................................................................................... 4-6 Major On-Airport Tenants.............................................................................................................................................. 4-7 Airport Environs ................................................................................................................................................................ 4-8 Airport Overview – Bolton Field Airport .......................................................................................................................4-12 Major On-Airport Tenants............................................................................................................................................4-12 Employment, Payroll, and Output Impacts for CRAA Airports .............................................................................4-13 On-Airport Tenants .........................................................................................................................................................4-14 Direct Impacts ...........................................................................................................................................................4-14 Multiplier Impacts ...................................................................................................................................................4-15 Total Impacts .............................................................................................................................................................4-17 Commercial Service Visitors .......................................................................................................................................4-18 Direct Impacts ...........................................................................................................................................................4-18 Multiplier Impacts ...................................................................................................................................................4-20 Total Impacts.............................................................................................................................................................4-21 General Aviation Visitors ..............................................................................................................................................4-21 Direct Impacts ...........................................................................................................................................................4-22 Multiplier Impacts ...................................................................................................................................................4-23 Total Impacts .............................................................................................................................................................4-24
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