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.”
Palm Beach International Airport
Director, Airports Marketing
Palm Beach County Dept. of Airports
Tel: (561) 471-7467
About the Florida Statewide Aviation Economic Impact Study
The 2019 report estimates an annual economic impact associated with 20 commercial service airports, 100 public-use general aviation airports, and in addition, 11 military aviation facilities on the economy of the State of Florida. This study includes economic impacts of various on-airport and off-airport aviation related activities.
As of 2017, the statewide economic impact for Florida’s aviation industry accounted for nearly $175 billion from four primary categories: On-Airport Activity ($72B), Visitor Spending ($90B), Industry Reliance ($2.2B), and Military Spending ($9.8B). The report provides detailed analysis about how Florida’s airports connect people with businesses, support jobs, generate income and stimulate spending at the local, regional and state level.
For more information on the study and for summary reports:
About Palm Beach International Airport
PBI is mentioned on CNBC!
Palm Beach International Airport serves over 6.5 million passengers annually and offers nearly 200 nonstop flights daily. Palm Beach International Airport is proud to be named the 9th Best Domestic Airport from prestigious Travel + Leisure Magazine's 2018 World's Best Awards for the second year running and has been recognized by Travel + Leisure, tripadvisor, Conde Nast Traveler, MissTravel, and Fox News for convenience, hospitality and amenities. Palm Beach International Airport was named 5th Best Medium Airport in the 2017 J.D. Power North America Airport Satisfaction Survey, #1 in U.S. Airports for Overall TSA Wait Times by U.S. Customs and Border Protection and 9th Best Domestic Airport in Travel + Leisure Magazine's 2017 World's Best Awards. For more information, visit the PBI blog! Stay up to date! Follow PBI on Facebook, Twitter and Instagram for updates and announcements!
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