(New Orleans, LA) – Results from a newly commissioned
study on the economic impact of the Louis Armstrong New Orleans International Airport
(MSY) reveal that the Airport contributed more than $5.3 billion in total
economic impact and sustained more than 53,300 jobs in the Greater New Orleans
regional economy in 2013. According to the study, the impact from the
Airport also generated over $2 billion in total earnings, $206 million in state
tax revenue and $279 million in local tax collections, for a combined total of
$485 million in taxes annually. It also shows that the Airport’s total economic
impact will grow to more than $6.3 billion with job projections exceeding
64,400 after the new terminal is completed in 2018.
The study, commissioned by the
New Orleans Aviation Board, was conducted by local economist and former
chancellor of the University of New Orleans, Dr. Timothy Ryan and The Mumphrey
Group of New Orleans. The study measured the economic benefits created by passenger,
air cargo, and general aviation activities by the Airport. It included the
impact of businesses that rely directly on the Airport, such as concessionaires
in the terminal, nearby hotels, and construction firms that perform capital
improvements at the Airport. It also considered the impact of tourism spending
from visitors to New Orleans who arrive via air travel. Based on data
published by the New Orleans Convention and Visitors Bureau, 46% of visitors to
the New Orleans area arrived by plane in 2013. The study estimated that the
tourism impact due to the Airport represents about $2.8 billion in direct
Additionally, the analysis
provided a parish-by-parish breakdown of the Airport’s impact in the region, as
well as the estimated impact the Airport has on the City of Kenner (over 7,000
jobs and $32.8 million in tax revenues), where MSY is located.
"Armstrong International Airport
is a very significant part of the New Orleans area economy; generating a
significant economic impact, supporting jobs, and creating income or earnings
for local residents,” says Dr. Ryan in his report.
Based on results from the study,
the completion of the North side terminal program is projected to increase the
Airport’s impact on the regional economy approximately 21% by the year 2023,
after operations have fully stabilized.
"This Airport is the economic
asset of our community. This study shows just how important the Airport is to
the New Orleans area economy, and how the new North Terminal will bring even
more jobs and impact into the New Orleans region,” said Iftikhar Ahmad,
Director of Aviation.
In January of this year, the
Airport revealed that building the proposed new terminal will generate 13,500
construction-related jobs and have a one-time economic impact of $1.8 billion
in addition to the recurring impacts estimated in Dr. Ryan’s analysis.
"The impact of this airport on
our community is unsurpassed. The true value of an airport to its
community goes unnoticed often times but this report shows what the Airport
means to our City,” said Ms. Cheryl Teamer, New Orleans Aviation Board
"I am pleased to see the level of
impact our Airport has on our community. This impact is felt throughout the
region and will continue to grow,” stated New
Orleans Councilman Jared Brossett, Chair of the Transportation and Aviation
"The Airport is an integral part
of our community and the impact it has on our community only continues to grow
with time,” stated Mayor Mitch Landrieu. "The continued growth of
our region depends on this valuable asset and growth of one, will stimulate
growth of the other,” concluded Mayor Landrieu.
A copy of the full report can be
found at www.flymsy.com
under News & Statistics.