Airports are valuable regional assets directly influencing the health of national and international economies. CDOT’s 2013 economic impact study found the entire state’s airport system provides 265,700 jobs and $12.6 billion in annual payroll, which contributes $36.7 billion to Colorado’s overall economy. This study shows our Airport supports 826 jobs and $24.8 million in payroll dollars. These numbers encompass the total number of jobs related to airport administration, airport tenants and businesses, and any capital investment projects necessary to maintain an airport’s functionality and safety.
Annual Airport Tenant and Capital Improvement Impact
for the Northern Colorado Regional Airport
Total Jobs 463
Total Payroll $16,861,000
Total Output $97,507,000
Commercial Airline Visitor Economic impact General Aviation Visitor Economic impact
for the Northern Colorado Regional Airport for the Northern Colorado Regional Airport
Jobs 94 Jobs 269
Payroll $2,210,000 Payroll $5,754,000
Output $8,167,000 Output $23,752,000
Annual Tax Impacts of the Northern Colorado Regional Airport
Local and State taxes that benefit from the operation of the airport total $5.2 Million.
The Northern Colorado Regional Airport economic contribution to the communities it serves is $129.4 Million in output and 826 Jobs with an annual payroll of $24.8 Million.
All of Colorado’s Airports full 2013 economic impact reports, including Northern Colorado Regional’s can also be found on CDOT’s website
Revenue streams for our Airport include Federal and State funds through entitlements and grants, reimbursements from fuel sales and excise taxes, and Airport generated fees. These categories are what support the end goal of self-sustainability for all airports. The Air Transport Association (ATA) notes that only an extremely small portion of revenue at a few airports comes from the local tax base. When funding from entitlements, grants, and taxes do not sustain the airport the rest, in theory, should be made up by fees. Fees can range from fees to commercial air carriers, such as passenger facility charges (PFCs) and landing fees; fees from airport resources, such as land leases, building leases, parking, or access fees; and fuel fees, like fuel flowage for FBOs. Flowage fees are utilized by airports that do not manage an FBO, such as ours. Fuel flowage and reimbursements from State and County fuel sales and excise taxes can make up a noticeable portion of revenues, last year alone it contributed 31% towards our operating revenue.
This is how effective land use helps sustain the Airport’s operations and functionality; which is one of the main reasons why the FAA enforces strict policies in regards to use of Airport owned land. The FAA’s recent clarification on their non-aeronautical use of hangars is in an effort to support public airports to take the steps necessary to protect the few revenue streams available to them. The theory is that if hangars are utilized properly and filled with airworthy aircraft or soon to be airworthy aircraft these users then utilize the fuel and other services available at the airport. This then supports the economy structure within the airport grounds themselves as it supports on-airport businesses.