An economic impact study has shown that Philadelphia International Airport (PHL) and Northeast Philadelphia Airport (PNE) are responsible for the contribution of an estimated 18.7 billion USD for the region’s economy.
The new study, carried out by Econsult Solutions, found that the two airports currently support roughly 102,600 jobs with 6.1 billion USD in earnings.
Operating as a Department of the City of Philadelphia, the airport system conducts itself as an enterprise fund, negating the need for typical local tax funding with financial self-sufficiency.
Tracy Borda, Chief Financial Officer of the Department of Aviation, said:The Department of Aviation team is incredibly proud to support such a significant economic engine in the region.
We have worked hard to continue the strategic growth of PHL in a post-pandemic economy and these results help us quantify the effects the Airport has on jobs and overall impact.
Economic contributions from the system are typically found across a set of three separate tiers of employment and influence, with Tier 1 ranging from direct benefits provided by flight activity and businesses at the airports themselves, Tier 2 generating income from supporting industries at airports including retail, hospitality and transportation, and Tier 3 impacts benefitting from local residents and businesses directly affected by increased tourism and visitor spend.
For more information, the study can be read in full here.
