The Tennessee Department of Transportation (TDOT) has completed a year-long Statewide Aviation Economic Impact Study, finding Tennessee’s public-use airports contribute $40 billion to the state’s economy and support 220,936 jobs in Tennessee.
The study analyzed the economic impacts at Monroe County Airport and found the airport contributes $2.6 million to the state’s economy. The study analyzed the economic impacts of on-airport activities, off-airport activities, multiplier impacts, and freight/cargo.
Examples of on-airport activities include economic impacts from business tenants, airport construction spending and airport employment. Off-airport impacts include visitor spending.
Visitor spending at Monroe County Airport generated $248,000 in revenue to the state in 2019. Analysis found that on-airport impacts generated 16 jobs, $763,000 in payroll, and $2.6 million in business revenue.
This Economic Impact Study represents the 2019 annual economic impact of the aviation system on the state’s economy. Therefore, according to county officials, the study is a good representation of the annual economic impact of the aviation system during a non-pandemic world.
“We are blessed and amazed at the results from this Impact Study by TDOT,” Monroe County Mayor Mitch Ingram said. “I want to thank the state for their investment in our local airport so it is not a burden on our county taxpayers. Tom McCosh does a tremendous job guiding the direction of our airport and they are currently restructuring many aspects of MNV to only increase our economic impact.”
Ingram added that this shows how important the airport is to Monroe County.
“Monroe County Airport is an asset to our local community and Tennessee’s $40 billion aviation industry,” he said. “Airports serve as a catalyst for people to conduct business, serve clients and ship cargo. Having a well maintained and diverse aviation system supports a robust economy.”
View the Executive Summary, including the breakdown of each Tennessee airport, at https://www.tn.gov/content/dam/tn/tdot/aeronautics/TASP-Economic%20Impact%20Brochure.pdf