Fort McMurray International Airport Drives Significant Economic Activity
FORT MCMURRAY, ALB, May (X), 2014– The 2013 Economic Impact for the Fort McMurray Airport Authority conducted by SNC-Lavalin calculates that the operation generates $412 million in total economic impact in the Regional Municipality of Wood Buffalo.
“The results confirm what we already know; that aviation in our region helps drive the local economy. The study conducted measured the impact in a number of ways including job creation, income injections, and economic output. It is clear that we act as an engine and hub of economic activity in addition to providing a vital transportation service for this region,” said Scott Clements, President and CEO of the Fort McMurray Airport Authority.
The economic impact is reported in terms of jobs – both part and full-time are expressed in full-time equivalents (FTEs), labour income and value-added gross domestic product (GDP). Direct, indirect and induced forms of activity have been considered.
The report is generated by measuring 44 on-airport businesses and considers the significant construction activity and subsequent financial impacts of the new terminal building. Key data from the report states that through the economic activity, a total of nearly 1,700 jobs were created (including direct, indirect, and induced effects), contributing $58.5 million in direct labour income, matched with $910 million in total economic output.
“Our economic impact extends outside of airport property. We connect the people who live and work here to other Canadian urban centres and economies around the world. We are the primary transportation infrastructure for commuter work populations,” says Clements.
The 2013 economic impact activity generated by some 44 on-airport businesses and the significant construction activity is as follows:
· 1700 total jobs created (746 direct impact)
· $114 million in total labour income ($58.5 million direct impact)
· $910 million in total economic output (new metric)
· $412 million Total Economic Impact
Comparisons (2011 - 2013)
· Increase in total jobs of 19%
· Increase in direct labour income of 23%
· Increase in total GDP (economic impact) of 14%
The Airport Authority will host its Annual Public Meeting on May 15th 2014 from 5:30 pm until 7:00 pm at the Oil Sands Discovery Centre.
About Fort McMurray International Airport (YMM)
Fort McMurray Airport Authority is a community-based not-for-profit organization that owns and operates Fort McMurray Airport (YMM). Canada’s sixteenth busiest airport, YMM is the fastest growing airport in Canada with a passenger growth rate of 25% in 2013. YMM served nearly 1.2 million passengers in 2013 and is nearing completion of a new terminal building which will open on June 9, 2014.
For more information, please visit www.flyfortmac.ca or contact us at 780-790-3910.
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