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Pages 66-75

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From page 66...
... 66 C H A P T E R 4 Engaging with Regional Stakeholders on the Airport's Contributions to Economic Activity For airport management and regional economic development officials, it will be increasingly important for airports to retain and enhance their current levels of service and to improve that service as a means of preserving and increasing regional economic activity. And they will need to be able to convey these complex impacts to local audiences.
From page 67...
... 67 The project team interviewed officials with the chambers in each of the case study locations and analyzed basic information on those organizations. The team reviewed the chambers' websites and annual reports (if available)
From page 68...
... 68 markets and economic activity. In some cases, regional partners developed or supported initiatives to mitigate the financial risk that airlines might undertake when entering a market.
From page 69...
... 69 Examples of airport regions (MSAs) that feature state capitals and/or large public universities include  Lansing - East Lansing, Michigan MSA (state government and Michigan State University)
From page 70...
... 70 Like local or regional chamber of commerce strategic plans, the CEDS may feature target industries. For example, the 2020 CEDs for the Mid-Region New Mexico COG highlighted aerospace, IT, advanced manufacturing, renewable energy, and health among others.
From page 71...
... 71 Miami-Dade's economic development strategic plan identified target industries with the highest potential for job growth and high wages. They include • Aviation • Creative design • Banking and finance • Hospitality and tourism • Technology • Trade and logistics • Life sciences and healthcare  The Aerotropolis Atlanta Alliance (https://aeroatl.org)
From page 72...
... 72 master plan update, noise compatibility study, and required environmental documents. (ACRP Synthesis 7, p.
From page 73...
... 73 The most commonly used method to estimate an airport's economic impact is via an "input–output" method, which typically measures the sum of direct, indirect, and induced economic impacts (or multiplier effects)
From page 74...
... 74 Figure 33: Economic Impact - What Gets Counted The Shortcomings of Traditional Economic Impact Analyses Vis-à-vis Regional Economic Activity Although traditional input–output airport economic impact assessments account for off-airport effects (e.g., supplier industries or remote airport rental car facilities) , they do not include the impacts on other non-aviation-related businesses in the regional economy.
From page 75...
... 75 – Trade effects – additional air services open new markets to many businesses as a result of new destinations, better flight connections and higher frequencies offered. This leads to a broader demand for existing products.

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