DRIVING THE ECONOMY
A new economic impact report makes it clear that Halifax Stanfield International Airport (HSIA) is a valuable provincial asset worth $1.27 billion to the Nova Scotia economy in 2012 — that represents an additional $13 million in economic output over the previous year.
Tom Ruth, president & CEO, Halifax International Airport Authority (HIAA), commented: \”Together, the Airport Authority and all of our airport partners have a tremendous impact on Halifax and the province as an economic generator and growth enabler.\”
And Ruth continued: \”It\’s also noteworthy that Halifax Stanfield\’s economic impact reaches out well beyond the urban centres of the province. A recent review showed that over 65% of airport community workers live in rural areas or rural communities of Nova Scotia, and their total wages and salaries amounted to nearly $330 million in 2012.\”
In 2012, direct employment created by the airport was 5,400 full-time equivalent (FTE) jobs. Major employers at Halifax Stanfield include IMP Group, Air Canada, and Jazz who together employ 2,243 full-time equivalent (FTE) staff or over 40% of the airport\’s workforce.
Total wage and salary impact of Halifax Stanfield on the provincial economy was $507.5 million. As well, airport community employees contributed $60.9 million in personal income tax to the province of Nova Scotia and $26.6 million in retail sales tax.
The report, conducted by Chris Lowe Planning and Management Group, states that since operational transfer of the airport from the federal government in 2000, HIAA and airport tenants have contributed approximately $475 million in renovation and new construction impacts, generating some 7,975 FTE construction-related jobs and $300 million in wages and salaries. These projects represent over 70% of airport-related capital improvements in Atlantic Canada.
Ruth also pointed out: \”Air travellers are a significant component of the province\’s tourism industry.\”
Visitors by air represent 32% of all tourists to Nova Scotia and they tend to stay longer and spend more than tourists who arrive by other modes of travel. In 2012, they generated an estimated $882 million in revenue or 44% of the province\’s estimated $2.02 billion total tourism revenues.
Go to http://hiaa.ca/airport-authority/business-plans to view the full report.