DFW International Airport Impact to North Texas Economy Grows To $16.6 Billion Annually
Texas Department of Transportation study shows double-digit growth for Airport's role in overall economy, jobs and payroll
(DFW INTERNATIONAL AIRPORT – Sept. 6, 2007) – DFW International Airport’s annual economic impact has grown to more than $16.6 billion, according to recently released figures from the latest aviation economic impact study by the Texas Department of Transportation (TxDOT). DFW and its associated businesses also provide 305,000 jobs and more than $7 billion in annual payroll to the North Texas economy according to the survey.
“Many people refer to DFW as the ‘economic engine’ of North Texas, and these numbers again confirm that this Airport is significantly helping to create one of the nation’s great economic regions,” said Jeff Fegan, CEO of DFW International Airport.
The economic impact study, conducted by Wilbur Smith Associates on behalf of the TxDOT Aviation Division, concludes that general and commercial aviation activity in Texas contributes more than $48 billion dollars to the state economy, and that DFW is directly responsible for more than one-third of that total.
“The impact that DFW has on the state economy is invaluable,” said Dave Fulton, Director of the Aviation Division of the Texas Department of Transportation. “The Airport continues to build on its mission and grow the state aviation marketplace, so it is a great benefit to every Texan.”
The latest study uses data from 2005 as its basis, and shows DFW’s total economic impact grew by 16% from the previous study. DFW’s job and payroll totals are up 13% and 26% respectively from the previous figures. The previous study used 2001 data.
“DFW is a major key to international economic growth for Dallas, Fort Worth and all of North Texas,” said Dallas Mayor Tom Leppert, “and these numbers further amplify the Airport’s importance to our global trade and tourism growth.”
"DFW Airport continues to be an economic powerhouse,” said Fort Worth Mayor Mike Moncrief. “Since its construction, DFW has been a win-win for passengers, our neighborhoods and our business community. The airport is a world-class facility that attracts new businesses to our region and gives local businesses the chance to grow and compete on an international scale."
The impact assessment also said the direct economic output attributable to DFW is estimated at more than $2.6 billion. Additionally, the Airport brings more than 16.3 million visitors to the area each year, supporting approximately 178,500 visitor-related jobs and $3.7 billion in payroll. Visitor expenditures are also responsible for $6.5 billion in direct economic output.
For this study, the Impact Analysis for Planning (IMPLAN) model was used to measure the multiplier effect and determine secondary impacts. The IMPLAN model is considered a standard method for evaluating the economic benefits of public facilities, and has been used nationwide to approximate the economic impacts associated with airports and airport systems. The study is available for download at the TxDOT website, located at http://www.dot.state.tx.us/services/aviation/economic_impact.htm.
For J.D. Power and Associates Award information, visit www.jdpower.com.
By The Numbers DFW Economic Impact 2001 data 2005 data Change
• Total economic activity $14.3 billion $16.6 billion +16%
• Total employment 268,500 jobs 305,000 jobs +13%
• Total payroll $6.0 billion $7.6 billion +26%