New FDOT Study Follows Another Record-Breaking Month of Passenger Traffic
Punta Gorda, FL (April 11, 2019) – Florida Department of Transportation’s (FDOT) new Statewide Aviation Economic Impact Study values Punta Gorda Airport’s (PGD) total economic impact (output) at $1,275,088,000. FDOT’s profile on PGD attributes more than $100 million in on-airport impacts and nearly $573 million in visitor spending impacts. When combined with the multiplier impacts and payroll of nearly $419 million, the total economic output exceeds $1.275 billion.
“This is outstanding news and a success story that our entire community can take pride in,” said Charlotte County Airport Authority (CCAA) Board Chair Pam Seay. “On behalf of the Charlotte County Airport Authority Board, thank you to our passengers, employees, and public and private partners that who collaborated to make PGD a leading economic engine for Southwest Florida.”
PGD just concluded another record-breaking month for passenger traffic in March 2019, with a total of 221,326 Allegiant passengers. This is a 14.71 percent increase from March 2018, which was also a record-breaking month. The economic impact assessment parallels PGD’s passenger growth, which reached 1,577,164 passengers in 2018, compared with 182,423 passengers in 2010. When the FDOT study was conducted in 2010, PGD’s economic impact was estimated at $141,383,900, and $219,975,000 in 2014.
“PGD’s economic impact increase from 2010 was more than nine-fold,” said PGD CEO James W. Parish. “While our success in attracting low-cost air service is on the forefront of this strong economic valuation, it has also provided a catalyst for the region’s economic growth in industry and tourism as well.”
Beyond PGD’s strong partnership with Allegiant and airline-related revenues, the airport has continued to see growth in aviation and non-aviation business activity. Out of PGD’s 84,113 operations (takeoffs and landings) in 2018, 87 percent were primarily general aviation flights, along with air taxis and military. Nearly all of PGD’s commercial hangars onsite are leased and there is a waiting list for t-hangar rentals.
Driven by the continued growth, the CCAA plans to relocate its general aviation facilities to the north side of the airport so that commercial air service operations have room to expand from its existing footprint. Airport management recently updated its Master Plan, which outlines short-term, intermediate and long-term projects for the airfield, commercial passenger terminal, general aviation facilities and support facilities. Visit PGD’s Statistics & Studies page for related reports.
About the Florida Statewide Aviation Economic Impact Study
An update of the Florida Statewide Aviation Economic Impact Study conducted by FDOT began in October 2016 and was completed in March 2019. This March 2019 report, prepared as part of the update to the Florida Aviation System Plan (FASP), provides the estimated, 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. Economic benefits in this study are expressed as direct, indirect, and induced (multiplier) impacts. For each of these measures, economic benefits are expressed in terms of total annual economic activity (output), employments, and payroll (earnings). For more information, visit www.fdot.gov/aviation/economicimpact.shtm.
About Punta Gorda Airport
The Charlotte County Airport Authority (CCAA), governed by five elected commissioners, owns and operates the Punta Gorda Airport (PGD), located at 28000 Airport Road, five minutes off I-75, exits 161 and 164. PGD provides quick and easy access to Southwest Florida, and is home to air charters, medical transport services, aircraft maintenance and avionics repair, as well as flight schools, distributers and manufacturers. CCAA is a nontaxing entity and operates as an enterprise fund, totally supported by revenue generated from its operations including rental car concession, parking, fuel sales and hangar, building and land leases. A 2018 economic impact study by the FDOT estimated that PGD is responsible for 12,392 jobs and $1.275 billion in total economic output. For more information, visit www.flypgd.com.
Read More: https://www.flypgd.com/2019/04/11/impact/