Houston Airports Contributed $27.6B To Region's Economy In 2010
by: Andrew Schneider, October 14, 2011 3:10:00 pm
The survey reports Bush Intercontinental, Hobby and Ellington Airports contributed $27.6 billion dollars to the Houston regional economy in 2010. That’s a 14% increase from 2005, the last time Houston Airport System conducted the study.
“It’s directly related to passenger growth.”
That’s Kirk Rummel, CFO of the Houston Airport System.
“So as United and Continental, Southwest have all brought more flights into the region, the associated economic benefits have come with those.”
The study estimates the three Houston airports are responsible for the equivalent of nearly a quarter million full-time jobs. That includes direct employment at the airports, spending by air visitors at Houston businesses, and what the survey terms “induced benefits.”
“The induced benefits are the dollars that get re-spent in the community. So a pilot at Continental receives their pay. He turns around and goes and spends money at the local stores, paying for rent and mortgages, etc.”
Economic consulting firm GRA, Inc. prepared the survey on the Houston Airport System’s behalf. University of Houston economist Stephen Craig assisted with the study.