9b Airport Economic Impact memo
COMMISSION AGENDA MEMORANDUM Item No. 9b. BRIEFING ITEM Date of Meeting January 30, 2018 DATE: January 12, 2018 TO: Dave Soike, Interim Executive Director FROM: Michael Tong, Asst. Finance Director - Budget SUBJECT: 2017 Airport Economic Impacts Study Briefing EXECUTIVE SUMMARY The purpose of this briefing is to discuss with the Commission the results of the 2017 Airport Economic Impacts Study. BACKGROUND The 2017 Airport Economic Impacts study measures the economic impacts of the Airport in terms of jobs, wages/salaries, business revenues and tax receipts. The report also includes a separate impact analysis for each of the surrounding communities at the Airport. Since 1987, the Port has undertaken a study of the economic impacts of the Seattle Harbor and Seattle-Tacoma International Airport in approximate five-year intervals. Information from the study provides defensible representations of the economic impacts associated with Port activities and allows for informed policy discussion regarding the Port's current and potential future role in supporting the economic vitality of the region. The study and related computer models are also used in internal planning and evaluation of capital projects, comparison of business operations and assessment of alternative land uses. The last study was completed in 2014. The Port advertised for consultants to conduct the 2017 Airport Economic Impacts study on May 11, 2017 and proposals were received on May 22, 2017. Based on the consultants written proposals, methods, assigned personnel, experience, and cost, the Port selected Community Attributes Inc. for the study. On January 18, 2018, the Port will share the results of the 2017 Airport economic impacts study with our key stakeholders at State of the Port Breakfast. On January 30, 2018, staff and the consultant will present the results of the 2017 Airport economic impacts study to the Commission. Septe3ber 22, 2016. COMMISSION AGENDA Briefing Item No. _9b. Page 2 of 2 Meeting Date: January 30, 2018 ATTACHMENTS TO THIS BRIEFING (1) Presentation slides PREVIOUS COMMISSION ACTIONS OR BRIEFINGS None Template revised September 22, 2016.
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