A recently released economic impact analysis has reaffirmed the role of Los Angeles International Airport as one of Los Angeles County’s major economic generators, airport officials said.
According to a study by the Los Angeles County Economic Development Corporation, activity at LAX last year generated 294,400 jobs in the county with labor income of $13.6 billion and economic output of more than $39.7 billion. An additional 19,400 jobs were supported in neighboring Southern California counties. The LAX activity added $2.5 billion to local and state tax revenues, the study found.
The report analyzed ongoing operations at LAX during fiscal year 2011 ending June 30, 2011, in which LAX served more than 60.6 million passengers, airport officials noted.
The employment impacts identified span across a wide range of industries, including tourism, food service, retail and wholesale trade, transportation warehousing, arts/entertainment and recreation, and professional/scientific/technical.
“This comprehensive report underscores the irrefutable importance of commercial aviation activity at LAX, and indeed throughout the Southern California region, on our economic well-being,” said Mayor Antonio Villaraigosa.
“From passenger spending to the enhancement of national and international trade, LAX and our region’s other airports are uniquely where the action is. It’s hard to argue with the generation of more than 294,000 jobs and $39.7 billion in economic activity.”
Additional capital improvement projects at LAX are expected to generate 90,500 jobs in the county with labor income of $5.6 billion, annual economic output of $14.4 billion, and additional state and local revenues of $520 million and federal tax revenues of $1.1 billion, airport officials said.
“The economic impact of LAX on our community is mind boggling. So many citizens across all of Los Angeles County depend on LAX for jobs. Thousands more earn their livelihood serving people who work at LAX or rely on LAX for personal or business travel,” said Gary Toebben, president/CEO of the Los Angeles Area Chamber of Commerce. “It is clear from this report how important it is for us as a city, county and region to modernize LAX.”
Los Angeles World Airports Executive Director Gina Marie Lindsey said, “We recognize the critical role LAX plays in the Southern California regional economy. Los Angeles deserves a world-class airport, and our ongoing efforts to modernize LAX through capital improvement projects will generate badly needed jobs today and into the future.”
Studying the impacts of both international and domestic visitors, the report found travelers through LAX supported 180,600 direct, indirect and induced jobs with total labor income of $6.8 billion annually in the county and generated $19 billion in annual economic output.