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Boca Raton News

ARTICLE

Date ArticleType
5/2/2019 General
Palm Beach Int'l Airport

PALM BEACH INTERNATIONAL AIRPORT GENERATES $5.6 BILLION IN ECONOMIC IMPACT TO SOUTH FL

Published: 05/02/19

West Palm Beach, FL. – FDOT released its updated Florida Statewide Aviation Economic Impact Study in March, a project that started back in October 2016. This report shows that Palm Beach International Airport generates more than $5.6 billion to the South Florida economy, both directly and indirectly.

The Palm Beach County Department of Airports is made of four airports in Palm Beach County: Palm Beach International (PBI), Palm Beach County Park (LNA), North Palm Beach County General Aviation (F45) and Palm Beach County Glades (PHK). The combined economic impact of the Palm Beach County airport system to the southeast Florida metropolitan area exceeds $7 billion. Palm Beach International Airport’s total employment topped 48,600 jobs, and the visitor spending contributions exceeded $2.3 billion to the region.

The airport system operates as an enterprise fund, meaning ad valorem tax dollars do not fund any portion of the four airports. Examples of airport revenue sources include, but are not limited to, airline fees, parking and ground transportation, general aviation, as well as non-aviation revenue such as airport-owned property leases. The Department also generates many non-aviation related projects which are not factored in to the Department’s economic contribution shown above; recent examples include a 120 room Home2 Suites by Hilton, a Drive Shack golf and entertainment venue, expected to create over 350 jobs, and a Toyota dealership, which are all located on Airport property.

“Aviation continues to represent a major economic engine in Palm Beach County,” said Laura Beebe, Director of the Palm Beach County Department of Airports. “In addition supporting travel and tourism, the County’s airports provide a significant contribution to the County’s overall economic health by creating jobs and generating income that flows back into our community.”

Click here to read the full press release