Today, Centennial Airport announced that, in just more than five years, its economic contribution to the state’s economy nearly doubled at $2.1 billion, up from $1.32 billion, according to the 2020 Colorado Division of Aeronautics Airport Economic Impact Report.
“Centennial Airport has taken a unique approach to its relationships with the industry, business partners, tenants, and the community,” said Centennial Airport Chief Executive Officer Robert Olislagers. “A little more than five years ago, this airport set out to position itself as not just another general aviation airport, but as a valued business partner, and we are pleased to see the results of this effort in this year’s Airport Economic Impact Report.”
“The Division of Aeronautics is proud to partner with Centennial Airport and 73 other public-use airports as we work statewide to support aviation and airports as a key part of Colorado’s multi-modal transportation system,” said CDOT Aeronautics Director David Ulane. “The increased economic impact at Centennial is echoed statewide, underscoring the importance and value of general aviation across all of Colorado.”
“We transformed ourselves from a transactional role to a strategic role—from being a landlord to being a strategic partner,” said Olislagers. “These numbers certainly indicate we’re on the right track.”
The aviation sector’s direct impact on Colorado’s overall economy has also grown, seeing a 32-percent increase over 2013.
When possible, the Division of Aeronautics conducts the Colorado Aviation Economic Impact study every five years. The study evaluates the economic impacts of on-airport businesses and activities and other spin-off or multiplier impacts (both indirect and induced) of airports throughout Colorado. Economic impacts are estimated for each individual airport included in the study, as well as for the state’s aviation system as a whole, updating the prior results published in 2013.
The study communicates the benefits of airports, both quantitative and qualitative, and validates the continued public investment in Colorado’s airport system. This final product includes a compilation of real-life stories that illustrate how aviation impacts the state’s businesses and communities, beyond providing impact numbers.
One of 56 general aviation airports in the state, Centennial Airport, is one of the busiest airports in the nation, with more than 350,000 take-offs and landings in 2019.
The Division of Aeronautics states the complete Colorado Aviation Economic Impact Report is expected in April.
