Study shows the importance of air service for business development in the region
Today, the Greater Moncton International Airport announced the results of an Economic Impact Study that gives clarity to how its operations contribute to the overall economic health of the region. As the primary aviation gateway for New Brunswick and the central Maritimes, the airport not only helps to generate thousands of jobs and tens of millions of dollars in tax revenue, it also plays an important role as a facilitator for attracting businesses to the region.
The study, which looks at 2014 data, revealed that the Greater Moncton International Airport helped to generate 665 million dollars of economic activity that year. It helped create 2798 local jobs, resulting in $23 million in household income.
“Greater Moncton International Airport plays a key role in the economy of New Brunswick and beyond,” said Airport Authority Chair of the Board of Directors, Chris Bacich. “Both for passengers and for cargo, the airport is an important hub that connects the region to other parts of the country and to the world.”
The airport’s total economic impact is also evident in the $37 million in taxes that were paid to municipal, provincial and federal governments, and the $247 million contributed to Canada’s gross domestic product.
Beyond the numbers, the study also looked at the wider economic benefits of the airport, including its role as a facilitator of industry. When businesses choose site locations, they factor in connectivity by air for both passengers and cargo because it enhances competitiveness. For example, air access makes it possible to ship time sensitive goods like seafood from great distances cost effectively and quickly.
For more information on the 2014 Greater Moncton International Airport Economic Impact Study, including a video about the airport’s benefits to the region, visit our Economic Impact Study page.