The Indianapolis Airport Authority released its latest economic impact study today during its monthly board meeting. The study shows the Indianapolis International Airport has significantly increased its economic power since the last measure in 2012.
The study, which was conducted by the Indiana University Public Policy Institute and measures the economic impact on Marion County, shows the airport is a vital source of commerce on all key areas of economic growth.
“It’s pretty common for most people to think of the airport singularly as a place to help facilitate travel,” said Mario Rodriguez, executive director of the IAA. “But it’s an economic engine that creates jobs, facilitates growth across local business sectors and spends significant money in the local market.”
As part of the $5.4 billion it contributes to the local economy, the Indianapolis airport supports more than 22,500 jobs in Marion County – equating to approximately $2 billion in employee personal wages and benefits. More than 10,100 of the total jobs are located on the airport campus alone.
The airport’s contribution to Marion County economy has increased by $830 million, which is an 18-percent increase to the local gross domestic product over the past four years. For every $1 the Indy airport generates, an additional $1 is generated in Marion County.
“The numbers tell a compelling story,” said Barbara Glass, president of the IAA board. “But the impact picture is even larger than the statistics reveal. Indy airport operations also play a role in attracting more economic opportunity to the state and the city through smart land use, smart air service strategy and global connectivity.”
The IAA’s land use initiative, for example, puts non-aviation land back into use which enables the state and city to attract corporations who are looking to relocate to the area or expand. New nonstop flights to key business markets like Seattle, which Alaska Airlines will begin in May, bring value by helping to attract and retain talent in key business sectors.
