Airport Master Plan November 1984

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II 1 0 1 Future taxes will be lost on the land purchased for the airport facilities. There will be lost taxes and private income from business disruption. The item will be discussed later in Section 10 of this report. Relocation of County Road 116 will not impact the present traveling public. However, its relocation will impact future commercial and residential development to the west of County Road 56. The airport facilities could attract jobs through air- port operations and businesses who will move to the industrial areas surrounding the airport facilities. Table 8 -1 is a finding for positive Economic Benefits due to airport facilities impacting a community. The General Aviation Manufacturers Association (GAMA) developed a methodology to determine the economic impact of an airport in a community.* The study provides an abbreviated method for deter- mining a portion of the economic benefits derived from an airport. This method results in a conser- vative figure, since it is based solely on arriving transient passengers. ' The potential economic impact derived from Gateway North Industrial was determined using the GAMA method and applied to forecast itinerant operations. Briefly, the methodology consists of four steps as follows: 1. Determine Annual Non -based Itinerant Aircraft Arrivals (assume 508 of itinerant arrivals are ' non - based). 2. Multiply by 3.2 the average passenger load. 3. Multiply by $50.00, the average daily expendi- ture per visitor. ' Result: Direct dollar impact of visitors. ' 4. Multiply result by four, the cyclic multiplier within a local economy estimated by the U.S. Chamber of Commerce. ' Result: Total annual economic impact of visitors. * "The Economic Importance of Airports and General Aviation" 8 -4