ECONOMIC IMPACT OF MICHAEL J. SMITH AIRPORT, BEAUFORT, NC

Michael J. Smith Airport is the 3rd busiest of North Carolina's 60 general aviation airports, serving 86 based aircraft and 52,500 operations per year. This study assesses the economic impact of the Airport on the community. It also reviews four options for the Airport's future: continuing as is, runway lengthening, moving to a new site, or closure. Activity at Michael J. Smith Airport has been growing steadily and is predicted to reach 115 based planes and 70,000 operations by 2010. The assessed valuation for based aircraft is about $4.2M; local property taxes on based aircraft are about $37,800 per year. Detailed questionnaires were administered to based aircraft owners, transient flyers, vehicle storage customers, residents and businesses during the fall of 1998. The economic impact of Michael J. Smith Airport totals about $14,5M annually, just over 1% of the region's economy. About 18 local businesses depend partially or substantially on the Airport, and another 86 indicate that the Airport is an important but not essential part of their business. The Airport-related economic activity of these businesses is about %5.1M. The 58 vehicle storage customers create about %1.4M in economic activity, transient visiting flyers conservatively $2.8M, and based aircraft owners $487,000. Indirect and induced economic activity adds another $4.7M. On average, each operation generates about $276 in local economic activity. Other unquantified impacts include summer home construction and taxes, and local taxes from indirect business activity. Most area residents and businesses have favorable opinions toward the Airport and want to see it improved at its present location. Recruitment of commercial service is the top interest of both groups, followed by runway lengthening and continuing as is. Only 8.5% of businesses and 18% of residents favor moving the Airport to a new site; and only 3-4% in each group favor closure. Lengthening the Airport's Runway 8-26 to 5,000 feet would cost about $950,000, but it would increase local economic activity to about $15.1M annually. Adding better aircraft guidance systems would cost an additional $400,000 but would increase local economic activity substantially, to $17.3M annually. Constructing a new comparable facility at a new location would cost an estimated $20M, but would increase economic impacts to $17.8M annually. Closing the Airport would result in the loss of about $9.6M in local economic activity, about 2/3 of the current impact. The study concludes that the economic impacts of Michael J. Smith Airport are substantial, extending well beyond the immediate benefits to local aircraft owners. Impacts would also increase if the Airport's Runway 8-26 were lengthened and better aircraft guidance implemented.

• Corporate Authors:

  University of North Carolina, Charlotte

  Center for Interdisciplinary Studies, 9201 University City Boulevard
  Charlotte, NC  United States  28223
• Publication Date: 1999-3

Language

• English

Media Info

• Pagination: 160 p.

Subject/Index Terms

• TRT Terms: Airplanes; Airport operations; Airport runways; Businesses; Economic impacts; General aviation airports; Guidance systems (Aircraft); Taxes
• Subject Areas: Aviation; Economics; Finance; Pavements;

Filing Info

• Accession Number: 00769574
• Record Type: Publication
• Report/Paper Numbers: 187
• Files: TRIS
• Created Date: Sep 9 1999 12:00AM