Economic Benefit Study Released Showing Local Impact of BGM
(Binghamton, NY) The New York Department of Transportation released the results of an economic benefits analysis for airports in New York State including the Greater Binghamton Airport.
The study found that the Greater Binghamton Airport generated more than $52 m on an annual basis for the local economy. This economic benefit value incorporates revenue generated by many related businesses including those that provide air travel services, associated ground transportation and related off site businesses, among other categories.
Of note, the study showed that 483 people have jobs associated with businesses related to the airport such as airlines, flight instruction and other air services. The employment and income generated by this employment category and the ripple effect to other businesses throughout the local economy are significant. The study clearly demonstrates that the Greater Binghamton Airport provides a considerable local economic benefit to the region.
“The Greater Binghamton Airport is an extremely important component to the region’s existing economic structure in many different ways,” said Broome County Executive Patrick Brennan. “Using a more obvious example, BGM provides the businesses of our community a convenient gateway to the global business world. Conversely, a less obvious example is the economic impact offered by the hundreds of employees from the various businesses, including the National Weather Service, United States Customs and Atlantic Aviation who call BGM home,” added Brennan.
Looking forward, the airport is aggressively pursuing initiatives designed to increase its impact on the region’s economy. For example, as a part of its most recent Master Plan Update, the airport identified segments of its property that was deemed to be developable for aviation and non-aviation purposes. The airport also worked with a local consultant to develop a business development plan designed to serve as a blueprint for future development efforts.
“Our goal is to maximize the economic benefits that BGM offers the local area through air service and other on-site business development means,” said Broome County Commissioner of Aviation Carl R. Beardsley, Jr. “The pieces of the puzzle are being put into place to capitalize on the existing and potential economic strength of the airport,” added Beardsley.
For airport information, please check the airport’s web site at www.flybgm.com . For access to the report, please click on the following link:
Posted: 7/11/2011 7:58 am
Copyright
Official County Government Site of Broome County, New York.
Copyright © 2010 Broome County. All Rights Reserved.
Comments or suggestions? Please e-mail the goBroomeCounty.com web site administrator
RSS Feed | Email This Page | Print This Page | Back To Top | Login
