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Economic Impact Study Are Shown in Figure 1 – Study Airports

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Economic Impact Study Are Shown in Figure 1 – Study Airports Contents 1.0 Introduction ........................................................................................................................................... 4 2.0 Sources & Measurements of Economic Impact for the 57 Public Airports in South Carolina ..................... 6 2.1 Sources for Airport Specific Economic Impacts ................................................................................................ 6 2.2 Measurements for Airport Specific Economic Impacts .................................................................................... 8 2.3 Method to Estimate Airport Specific Economic Impacts .................................................................................. 8 3.0 Direct Economic Impacts for Commercial and General Aviation Airports ................................................. 9 3.1 Estimates of Direct Impacts for Airport Management for Commercial Airports .............................................. 9 3.2 Estimates of Direct Impacts for Airport Tenants at Commercial Airports and Combined Airport Management and Tenant Impacts for General Aviation Airports .................................................................. 10 3.3 Estimates of Direct Impacts for Capital Investment ....................................................................................... 13 3.4 Estimates of Direct Impacts from Boeing Commercial Airplane Division ....................................................... 16 3.5 Estimates of Direct Impacts from General Aviation Visitors........................................................................... 16 3.6 Estimates of Direct Impacts for Commercial Visitors ..................................................................................... 22 3.7 Summary of Total Direct Economic Impacts for Airports in South Carolina ................................................... 24 4.0 Estimates of Indirect/Induced Annual Economic Impacts ....................................................................... 27 4.1 Discussion and Measurement of Indirect/Induced Economic Impacts .......................................................... 27 4.2 Indirect/Induced and Total Economic Impacts from Airport Management at Commercial Airports ............. 30 4.3 Indirect/Induced and Total Economic Impacts from Airport Tenants at Commercial Airports ...................... 33 4.4 Indirect/Induced and Total Economic Impacts for Airport Management and Airport Tenants at General Aviation Airports ............................................................................................................................................. 33 4.5 Airport Indirect/Induced and Total Economic Impacts from Airport Capital Investment .............................. 38 4.6 Indirect/Induced and Total Economic Impacts from General Aviation Visitors ............................................. 42 4.7 Indirect/Induced and Total Economic Impacts from Commercial Visitors ..................................................... 46 5.0 Total Annual Economic Impacts for Each South Carolina Airport ............................................................ 50 6.0 Total Annual Statewide Economic Impacts for All South Carolina Airports ............................................. 54 7.0 Statewide Tax Revenue Analysis for South Carolina Commercial and General Aviation Airports ............. 59 7.1 Taxable Events for Activities Associated with South Carolina Airports .......................................................... 59 7.2 Sales Tax Applicable to Airport-Supported Activities ..................................................................................... 60 7.3 Sales and Income Tax Revenues from Commercial and General Aviation Airports in South Carolina ........... 61 7.3.1 Sales Taxes Generated by Direct Airport Management Spending ........................................................... 62 7.3.2 Sales Taxes Generated by Direct Airport Tenant Spending ..................................................................... 62 7.3.3 Sales Tax Generated by Direct Capital Investment Spending .................................................................. 63 7.3.4 Sales Tax Generated by Direct Visitor Spending ...................................................................................... 64 7.3.5 Sales Tax Generated in Association with Direct Payroll of Airport and Airport Supported Employees .. 65 7.3.6 State Income Tax Generated in Association with the Payroll of Direct Airport and Direct Airport Supported Employees .............................................................................................................................. 66 7.4 Summary of Statewide Sales and Income Tax Revenues from South Carolina Airports ................................ 67 7.5 Sales and Income Tax Revenues Associated with each of the 57 South Carolina Airports ............................ 69 8.0 Efficiency Benefits of Aviation ............................................................................................................... 81 8.1 Jobs in South Carolina that Gain Efficiency from Aviation .............................................................................. 81 9.0 Summary of South Carolina’s Economic Impacts from Airports .............................................................. 82 2 Figures Figure 1 – Study Airports ............................................................................................................................................... 4 Figure 2 – Percent of Total Statewide Airport Employment Impact by Activity Center .............................................. 57 Figure 3 – Percent of Total Statewide Airport Payroll Economic Impacts by Activity Center...................................... 58 Figure 4 – Percent of Total Statewide Airport Spending Economic Impacts by Activity Center .................................. 58 Figure 5 – Contributions to Airport and Airport Supported Sales Tax and Income Tax Revenues .............................. 69 Tables Table 1 – Direct Airport Management Employment and Annual Economic Activity For Commercial Airports .......... 10 Table 2 – Direct Airport Tenant Employment and Annual Economic Activity for Commercial Airports ..................... 11 Table 3 – Direct Airport Management And Tenant Impacts Combined For General Aviation Airports ...................... 11 Table 4 – Direct Impacts from Average Annual Capital Investment ............................................................................ 14 Table 5 – Direct Impacts from Boeing South Carolina ................................................................................................. 16 Table 6 – Estimates of General Aviation Visitors ......................................................................................................... 17 Table 7 – General Aviation Visitor Direct Employment, Payroll, Spending, and Annual Economic Activity ................ 20 Table 8 – Visitors Arriving in South Carolina on Commercial Airlines ......................................................................... 22 Table 9 – Direct Impacts from Commercial Visitor Spending ...................................................................................... 23 Table 10 – Summary of Total Statewide Airport Direct Economic Impact by Category .............................................. 25 Table 11 – Summary of Total Annual Direct Impacts for South Carolina Airports ...................................................... 25 Table 12 – Direct, Indirect/Induced, and Total Economic Impact from Airport Management At Commercial Airports .................................................................................................................................. 31 Table 13 – Direct, Indirect/Induced, and Total Economic Impacts from Airport Tenants At Commercial Airports .... 34 Table 14 – Direct, Indirect/Induced, And Total Economic Impacts From Airport Management And Airport Tenants Combined For General Aviation Airports ................................................................................................... 35 Table 15 – Direct, Indirect/Induced, and Total Economic Impacts from Average Annual Capital Investment ........... 40 Table 16 – Direct, Indirect/Induced, and Total Economic Impacts from General Aviation Visitor Spending .............. 44 Table 17 – Direct, Indirect, and Total Economic Impacts from Commercial Visitor Spending .................................... 48 Table 18 – Total Annual Statewide Economic Impacts for Each South Carolina Airport ............................................. 52 Table 19 – Total Statewide Annual Economic Impacts From Airport Management* ................................................. 54 Table 20 – Total Statewide Annual Economic Impacts from Airport Tenants* ........................................................... 54 Table 21 – Statewide Annual Economic Impacts From All Average Annual Capital Investment ................................. 54 Table 22 – Statewide Annual Economic Impacts from All General Aviation Visitor Spending .................................... 55 Table 23 – Statewide Annual Economic Impacts from All Commercial Visitor Spending ............................................ 55 Table 24 – Total Annual Statewide Economic Impacts From All Impact Categories for All South Carolina Airports .. 55 Table 25 – South Carolina State and Local Sales/Use Tax Rates as of October 2017 .................................................. 61 Table 26 – Estimated South Carolina
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