Contribution to the Economy
St. John’s International Airport Authority stimulates economic activity by providing an efficient transportation facility that opens up Newfoundland and Labrador to the world. Every day, thousands of people travel through this facility for the purposes of business and leisure, such that 70% of non-resident air travellers entering and exiting our province do so through St. John’s International Airport.
We have entered a period of rapid growth in Newfoundland and Labrador. As the gateway to the province, we realize the importance of enhancing and expanding our facilities and services in order to ensure that not only do we contribute to the growth of the region but also that we do not hinder that growth. It is for this reason that we have embarked on an ambitious Airport Improvement & Expansion Plan that will enhance and expand our airport facilities so that we are well positioned to serve the 2 million passengers anticipated to travel to and from St. John’s International Airport by 2021.
The growth of our Airport and that of the region itself would not be possible without the increased seat capacity offered by our airline partners. Since 1999, we have significantly outperformed other Atlantic Canadian airports in attracting new airlines services such that airline seat capacity at our Airport has increased by 45%, whereas other Atlantic Canadian airports have experienced a decline. We regularly promote our Airport and region to existing and potential airline partners in an effort to secure new routes and enhance existing ones. It is our aim to provide as much choice as possible to you, the traveling public.
Economic Impact Study
In 2011, the Airport Authority commissioned Strategic Concepts, Inc. and local economist Dr. Wade Locke to determine the economic footprint of the Airport. The results of the study clearly indicate that the St. John’s International Airport is an economic engine, having a substantial impact on the Newfoundland and Labrador economy.
On an annual basis, the Airport Authority and its 55 airport operating partners contribute $400 million in GDP/Income to the Canadian economy, generate approximately 7,700 person-years of employment, and produce over $80 million in tax revenues to all three levels of government.
Each year, almost 6,000 person-years of employment are generated within the province as a result of the spending level that takes place at St. John’s International Airport. These operations also generate $21 million in tax revenue to the Newfoundland and Labrador government and $3 million to Municipal governments.
The results clearly indicate St. John’s International Airport Authority and its airport partners play an important role in facilitating the growth of the Province’s economy.
“As impressive as these economic impacts are as outlined in the Economic Impact Study, they do not really capture the true economic contribution of the Airport to local and provincial economies. For instance, the benefits of local business being able to use the Airport to conduct business both across Canada and around the world could not be incorporated into this report, but are significant” commented Dr. Wade Locke, author of the study. “In fact, it is reasonable to argue that without the well developed and efficient airport in St. John’s, the transformation in economic activity now overtaking the province would not be possible.”