Airport Projects
Airport impact analyses typically address issues related to the extension of a runway or the relocation of a runway. A fiscal and economic analysis focuses on new business and job generation because of this investment, possible land takings and the loss of businesses or residential homes and the possible diminution of residential or commercial land values.
Increasingly RKG is also helping communities evaluate whether or not local municipal airports are a real economic benefit to the local economy.
NEW
Evaluating The Economic Impact of Airports
Working as an aviation consultant, RKG Associates recently completed a study with the Transportation Research Board (TRB) that reviewed the current methods used to evaluate economic impacts at airports. Entitled Airport Cooperative Research Program (ACRP) Synthesis 7: Airport Economic Impact Methods and Models, the report examines the methods and models used to define and identify, evaluate and measure, and communicate the different facets of the economic impact of airports. The report also highlights the various analysis methods, models, and tools that are available for local airport economic studies, as well as their applicability and tradeoffs, including limitations, trends, and recent developments. Access the full report.
WHAT ABOUT THAT MUNICIPAL AIRPORT?
"Municipalities are beginning to take a hard look at costs and benefits of local general aviation facilities"
A mayor of a small community has been approached by the owner of a local private airport offering to sell the airport to the town...
The manager of a small airport is planning to extend the facility's runway to improve service to the local business community, but is unsure how the improvements will affect the property values of nearby homes...
A local elected official's constituents are raising questions about the economic benefits of the airport and whether or not there may be other more profitable uses for the property...
Increasingly, RKG Associates has been asked to help clients deal with these types of issues surrounding local airports.
The main reason airport issues have become a hot topic over the past few years is that residents have put increased pressure on local elected officials to make prudent fiscal decisions (i.e., keep taxes low). In response to this pressure, these officials are taking an active interest in the financial solidity and economic impact of their facilities.
Some municipalities without a local public airport are also taking an active interest in airports. Increasingly, owners of small private general aviation (GA) airports are approaching public officials with offers to sell their facility to the respective community. Recently, RKG's team of financial and market analysts and planners have helped municipalities who are dealing with this issue by providing answers to the following questions:
- What is the financial feasibility of owning this airport?
- Does this airport contribute to the local economy? If so, how many jobs, or how much local investment does it leverage? Do surrounding communities benefit economically from the facility?
- What is the regional supply and demand (market conditions) for airport infrastructure and services?
- Is aviation the highest and best use for the property? What other uses may make more sense from a tax base and/or economic impact perspective?
- If improvements are needed at the airport, how will potential increased air traffic noise affect local property values?
If you have questions regarding how your local airport affects your community, RKG Associates can help. Our team of financial and market analysts and planners have the experience and knowledge to provide you with information to help you make better decisions.
Recent Airport Projects