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