The Florida Department of Transportation’s (FDOT) 2019 Statewide Aviation Economic Impact Study shows Kissimmee Gateway Airport having an annual total economic impact toppling more than $190 million.
Using economic modeling software, FDOT determined the airport’s current annual total economic impact of $190,943,000, which is an increase of $81.8 million from findings in a similar report published just six years ago in 2013, by evaluating direct impacts and supplier purchases and employee spending; two streams often called multiplier effects. Supplier purchases and employee spending impacts are a result of injecting income generated from directly affected businesses and employees into the economy through purchases at other Florida businesses and the purchasing of household goods and services.
The study also highlighted Kissimmee Gateway Airport is home to 1,576 employees with a total annual payroll of $62.2 million, which is an increase of 444 jobs and $28.6 million in payroll since the 2013 report.
Additionally, the study provided insights to direct on-airport activity impacts totaling $77.8 million annually, which accounts for the provision of aviation services, tenant activity, visitor spending, and the activity of aviation-reliant businesses.
The study reaffirms the city’s belief the aviation industry offers significant opportunities, which is why it launched its Aerospace Advancement Initiative (AAI) in April 2018. The initiative offers incentive packages to position the airport in a more competitive manner by encouraging investors to locate onsite or nearby. The city’s goal is to grow Kissimmee Gateway Airport into one of the regions premier workforce hubs.
Periodically, FDOT conducts an aviation economic impact study to determine the role aviation has on supporting the state’s economy while also providing data to key decision makers throughout the state’s seven regions. The report uses a variety of primary and secondary data sources and a series of six surveys to obtain information from stakeholders; including, airport administration, tenants, visitors, and aviation-reliant businesses.
For more information about the city of Kissimmee, visit www.kissimmee.org.