To Results: predict and estimate the economic benefits to Tooele County four specific sectors of possible development were looked at: The initial construction and related improvements in the future, Westminster Colleges aviation program, increases in transient or visiting aircraft, and increases in general aviation operations. The economic impacts of these areas is estimated by comparing the size and infrastructure that will be present at KTVY after the initial investment by the Salt Lake Department of Airports and Westminster College and then assuming different rates of growth for all the areas listed above to bring the airport inline with the level of operations seen at similar airports across the state. By comparing general aviation, business activity, employment levels, and income generated at other airports across the state and the country we were able to make predictions using an input-output model for the overall impact of the proposal over the next 22 years the first two years are placing the infrastructure and the next 20 is the period of growth. Constructions and Related Capital Improvements The proposal by the Salt Lake Department of Airports and Westminster College calls for installing an instrument landing system at the airport; bringing water, sewer, and electrical services to the airport; building a new road to the airport providing easier access from Highway 138, and constructing classroom and hangar facilities. The total estimated cost of this project including contingency and soft cost is $22,424,000. From this initial construction it is estimated that it will provide direct income of $1,444,474 over the construction period to workers in Tooele County with the induced multiplied income of $3,499,845. While the direct output created from this construction is estimated to be $4,848,800 to Tooele County and $12,043,543 to the broader region. Once the construction is completed and the airport attains reliever status1, it becomes eligible for as much as $500,000 in subsidies from the federal government a year for future capital improvements. Therefore, averaged over the course of 20 years, it is assumed that the amount of new capital investment from both public and private sources at KTVY could be around $1,000,000 a year. These improvements could range from the construction of new hangars for general aviation to other flight schools resulting in total economic output or spending in Tooele County of $4,000,000 and induced spending in the broader region of $6,708,000 over 20 years. The total impacts including net present value figures are presented in the Table below.
Income Impacts of Tooele Valley Airport
Construction and Related Improvement (2007 - 2028) Nominal Net Present Value Direct Impacts $ 2,936,074 $ 2,613,095 Induced Impacts $ 6,541,516 $ 5,821,926
Output Impacts of Tooele Valley Airport
Construction and Related Improvement (2007 - 2028) Nominal Net Present Value Direct Impacts $ 8,484,800 $ 6,778,784 Induced Impacts $ 18,751,543 $ 15,890,555
Westminster Colleges Aviation Program
1
See Appendix A for full explanation of reliever airports
Westminster Colleges aviation program has enrollment of about 100 students per year and employs between 25 to 35 certified flight instructors and faculty. The program has 11 planes and employs outside technicians to service and maintain the aircraft. The facility Westminster hopes to build up there will also require maintenance staff from the local area. From these existing numbers, the study assumes that Westminster will directly employ around 6 8 Tooele and residents bring in over 130 students and faculty to Tooele each day. The jobs created at Westminster aviation facility for Tooele residents, according to average wages from the Bureau of Labor Statistics, will generate $4,245,878 of income over 20 years with an induced affect to the broader region of $6,699,955 in income. The spending and output produced by the students and faculty of the facility is estimated to yield $1,524,323 over 20 years with an induced affect to the broader region of $2,556,289. The total impacts including net present value figures are presented in the Table below.
Income Impacts of Tooele Valley Airport
Westminster College Future Impacts (2009 - 2028) Nominal Net Present Value Direct Impacts $ 4,245,878 $ 1,965,027 Induced Impacts 6,699,995 $ $ 3,100,812
Output Impacts of Tooele Valley Airport
Westminster College Future Impacts (2009 - 2028) Nominal Net Present Value Direct Impacts $ 1,524,323 $ 705,469 Induced Impacts $ 2,556,289 $ 1,183,071
Increases in Visitor or Transient Operation To estimate the possible future economic impacts from transient visitors all of the general aviation airports in Utah were looked at to compare the number of transient flights to the number of employees at each airport. The relationship showed that airports with FBOs roughly generate employment of about 2 people per 1000 transient flights. Then using estimates from the FAA of how much employment is generated by having bases aircrafts stored at the airports we deduced that about half of that employment is actually related to providing services to transient flights. Therefore, it is estimated that by the year 2028 the airport could be experiencing around 115,000 flight operations a year of which about 23% are assumed to be transient that could produce as many as 28 jobs. The growth over the 20 year period following construction could produce direct income for Tooele of $7,154,260 and induced income to the broader region of $12,097,853. The FAA also estimates that every transient flight spends about $100 per passenger on fuel and other good in a community when a stop is made. This spending is estimat...