In a recent economic impact report based on 2018 data by Unison Consulting, the Long Beach Airport Aviation Complex was found to provide 46,000 jobs and $8.6 billion for the regional economy, the City announced Friday.
The complex includes 441 businesses within the area north of the 405 freeway and south of Carson Street, extending from Clark Avenue and Cherry Avenue. The majority of this property is owned by the City of Long Beach.
The sight of the previous Boeing plant is expected to be used for further development of the area, the City said, and it sold for $200 million.
“Long Beach Airport has always been important to supporting a strong economy in the city,” Mayor Robert Garcia said. “This economic impact report makes it clear that it is also a substantial contributor to the region’s economy, supporting 46,000 jobs and generating $8.6 billion regionally.”
The report accounts for direct impacts from the airport and complex, business and passenger spending, multiplier effects on businesses that hire workers and buy products from other businesses and from employees who spend their wages at local businesses.
The economic impact of visitors from the airport spending money locally was also measured for the first time, the City press release stated.
By studying passenger surveys, the study found that a commercial passenger traveling from out of town spent, on average, $546 on accommodations, ground transportation, food, shopping and entertainment. The average general aviation passenger spent $335. The total amount of visitor commerce supports approximately 5,800 jobs.
The airport has generated almost $1.6 billion in economic impact and provides over 10,000 jobs, the report said.
“This report shows what a tremendous economic benefit Long Beach Airport is to our local economy,” 5th District Councilmember Stacy Mungo, who represents the area, said. “With construction underway at the airport and the ongoing development of Douglas Park and the Long Beach Exchange, we anticipate this impact to be even stronger in the future.”
The Long Beach Airport does not receive funding through taxes but does generate tax revenue that goes toward local government and infrastructure.
The study’s estimates are projected from the airport’s total value-added impact, the contribution to gross domestic product, and state and local government tax revenue data. An estimated $79 million was contributed by the airport from air transportation. A total of $615 million was generated by the complex, according to the report.
“We’re delighted that Long Beach Airport continues to be known for its ease and convenience, and also plays a major role in stimulating and supporting our community,” Cynthia Guidry, Long Beach Airport Director, said. “The airport is an important commercial travel hub that attracts enterprise and jobs.”
