2007 impact report commission 60 pages
THE 2007 ECONOMIC IMPACT OF THE PORT OF SEATTLE BY MARTIN ASSOCIATES POS Commission Presentation FEBRUARY 3, 2009 1 Purpose Measure the economic impact of the Port of Seattle: Seattle Seaport: Marine Cargo Waterborne Passenger Activity Fishermen's Terminal/Fishing Vessels Homeporting at POS Terminals Marina Impacts Non-Marine Cargo Real Estate Tenants Sea-Tac International Airport 2 Purpose Measure the baseline impacts by operating unit Develop impact models that can be used for sensitivity analysis Compare the impacts with the 2003 impact study 3 Flow of Economic Impacts Port Activity Business Revenue Payroll Retained Local Indirect Jobs Earnings, Purchases Dividends, Investments Direct jobs Re-spending Induced Jobs Taxes 4 Impacts Created by Port Activity Jobs Direct Induced Indirect Wages/salaries Direct Re-spending Indirect Business revenue Local Purchases Taxes 5 Methodology Interviews with 929 Port tenants and service providers Formulation of direct impact models from interview data Development of Seattle induced and indirect job models In-terminal passenger survey (950 passengers) Cruise passenger survey (600 passengers and crew) 6 Total Port of Seattle Impacts: 193,986 total direct, induced and indirect jobs $9.5 billion of personal income and consumption expenditures $17.6 billion of business revenue $1.4 billion of local purchases $867.0 million of state/local taxes 7 Distribution of Total Jobs by Operation 8 Port of Seattle Impacts 2007 MARINE CARGO FISHING MARINAS PASSENGERS* SEA--TAC SEA-TAC REAL ESTATE TOTAL ON-SITE VISITORS JOBS DIRECT JOBS 12,428 5,607 123 1,865 18,773 71,129 1,392 111,317 INDUCED 16,639 8,028 129 1,059 11,538 24,046 689 62,128 INDIRECT 4,224 1,337 100 554 4,723 8,161 1,441 20,540 TOTAL 33,291 14,972 352 3,479 35,034 103,336 3,521 193,986 INCOME (1000$) DIRECT $637,375 $823,477 $4,575 $57,825 $778,150 $1,380,523 $79,575 $3,761,500 RE-SPENDING/CONSUMPTION $1,972,676 $966,679 $14,161 $83,633 $1,124,504 $858,685 $46,034 $5,066,373 INDIRECT $186,731 $51,845 $3,887 $20,472 $210,203 $179,990 $46,689 $699,817 TOTAL $2,796,782 $1,842,000 $22,623 $161,930 $2,112,858 $2,419,199 $172,298 $9,527,690 REVENUE ($1000) $3,060,440 $814,364 $13,831 $227,849 $7,596,875 $5,541,631 $304,225 $17,559,215 LOCAL PURCHASES ($1000) $438,823 $104,163 $7,845 $33,412 $439,320 $345,272 $69,759 $1,438,594 STATE AND LOCAL TAXES ($1000) $254,507 $167,622 $2,059 $14,736 $192,270 $220,147 $15,680 $867,020 9 IMPACT OF SMALL BUSINESS PROGRAM Port of Seattle spent $53.6 million on services and construction contracts with local small businesses in 2007 366 full-time equivalent direct, induced and indirect jobs 90 jobs are with local minority and women owned businesses $16.9 million wages and salaries 10 Seaport Impacts 11 2007 Economic Impacts of Seaport Operations 56,255 total jobs 21,695 direct 26,716 induced 7,845 indirect $5.0 billion of wages and salaries $1.6 billion direct $3.1 billion induced and consumption $312.8 million indirect $4.5 billion business revenue $660.6 million local purchases $457.5 million state and local taxes 12 Marine Cargo Methodology Interviews with tenants, terminal operators, service providers Develop operational models: Surface transportation Terminal operations ILWU Pilots/towing Develop induced model Bureau of Labor Statistics, Consumer Expenditure Survey Personal income multiplier from Bureau of Economic Analysis (BEA) 13 Marine Cargo Methodology Develop indirect model to convert expenditures into indirect jobs, income, and taxes BEA RIMSII for Washington and King County Develop Sensitivity Model: Cargo levels Terminal productivity and operations New projects terminal, warehouse, cranes, etc Carrier and terminal analysis Inland modal distribution Comparative analysis of alternative uses Ranking of projects 14 2007 POS Marine Cargo Impacts Port of Seattle Cargo Operations JOBS DIRECT 12,428 INDUCED 16,639 INDIRECT 4,224 TOTAL JOBS 33,291 RELATED USERS PERSONAL INCOME (1,000) DIRECT $637,375 INDUCED $1,972,676 INDIRECT INCOME $186,731 TOTAL INCOME $2,796,782 BUSINESS REVENUE (1,000) $3,060,440 LOCAL PURCHASES (1,000) $438,823 STATE AND LOCAL TAXES (1,000) $254,507 15 Distribution of Direct Jobs by Category, POS 2007 DIRECT JOBS SURFACE TRANSPORTATION RAIL 1,621 TRUCK 1,931 MARITIME SERVICES TERMINAL EMPLOYEES 444 ILWU/DOCKWORKERS 1,038 TOWING 95 PILOTS 20 AGENTS 166 SURVEYORS/CHANDLERS 492 FORWARDERS 422 WAREHOUSE 1,036 GOVERNMENT 1,770 SHIPYARDS/SHIPREPAIR 1,865 BARGE 1,017 BUNKERS 45 BANKING/INSURANCE/LAW 188 PORT OF SEATTLE 282 TOTALS 12,428 16 Totals may not add due to rounding Distribution of Direct Jobs by Commodity, POS 2007 Commodity Direct 1,000 Metric Jobs/1000 Tons Jobs Tons Containerized Cargo International 5,703 13,344.0 0.43 Domestic 1,332 1,900.1 0.70 Grain 468 5,333.0 0.09 Breakbulk 490 116.6 4.20 Petroleum 269 1,240.8 0.22 Liquid Bulk 26 46.7 0.56 Not Allocated 4,141 Total 12,428 21,981.2 Totals may not add due to rounding 17 Distribution of Direct Jobs By Place of Residence PERCENT DIRECT JOBS Auburn 1.89% 235 Bellevue 0.57% 71 Bothell 4.49% 558 Burien 0.83% 103 Des Moines 1.91% 237 Enumclaw 0.20% 25 Federal Way 5.75% 715 Issaquah 0.24% 30 Kent 2.60% 323 Kirkland 0.37% 46 Mercer Island 0.21% 26 Normandy Park 0.18% 22 Redmond 0.14% 17 Renton 1.75% 217 Sea-Tac 2.23% 277 Seattle 14.58% 1,812 Tukwila 0.24% 30 Vashon 0.05% 6 Other King 14.41% 1,791 Edmonds 1.02% 127 Everett 1.58% 196 Mountlake Terrace 0.59% 73 Other Snohomish 7.52% 935 Tacoma 5.80% 721 Other Pierce 7.01% 871 Other WA 21.05% 2,616 Other US 2.79% 347 TOTAL 100.00% 12,428 18 Totals may not add due to rounding Revenue by Category, POS 2007 REVENUE ($1,000) SURFACE TRANSPORTATION RAIL $1,512,956 TRUCK $160,481 MARITIME SERVICES TERMINAL EMPLOYEES $324,289 TOWING $5,399 PILOTS $3,851 AGENTS $1,747 SURVEYORS/CHANDLERS $113,418 FORWARDERS $116,859 WAREHOUSE $86,833 SHIPYARDS/SHIPREPAIR $309,562 BARGE/BUNKERS $413,376 BANKING/INSURANCE/LAW $11,669 TOTALS $3,060,440 Totals may not add due to rounding and excludes POS Revenue 19 2007 Cargo Revenue Impact by Commodity Commodity Direct 1,000 Metric Revenue per Revenue Tons Ton Containerized Cargo International $1,982,133 13,344.0 $148.54 Domestic $230,348 1,900.1 $121.23 Grain $197,766 5,333.0 $37.08 Breakbulk $91,943 116.6 $788.53 Petroleum $226,614 1,240.8 $182.64 Liquid Bulk $1,642 46.7 $35.16 Not Allocated $329,994 Total $3,060,440 21,981.2 Totals may not add due to rounding and excludes POS Revenue 20 Impact Of Container Operations Port of Seattle Container Operations 2007 JOBS DIRECT 7,035 INDUCED 9,407 INDIRECT 3,054 TOTAL JOBS 19,496 PERSONAL INCOME (millions) DIRECT $360.2 RE-SPENDING $1,114.9 INDIRECT INCOME $135.0 TOTAL INCOME $1,610.1 BUSINESS REVENUE (millions) $2,212.5 LOCAL PURCHASES (millions) $317.2 STATE AND LOCAL TAXES (millions) $146.5 21 Totals may not add due to rounding Fishing Methodology Inventory of vessels moored at each facility, by type, provided by POS Fishermen's Terminal Terminal 91 Maritime Industrial Center Interviews with tenants (suppliers, boatyards, restaurants, retail, brokers, insurance, lawyers) Jobs to sales ratios and salaries developed from survey of suppliers, ship/boat yards, haul-out services, banking/insurance, equipment M&R Combined with total expenditures, by type, at each terminal 22 POS Fishing Activity Impact, 2007 TERMINAL 91 FISHERMEN'S TERMINAL MARITIME INDUSTRIAL CENTER TOTAL FISHING JOBS DIRECT JOBS 4,068 1,310 229 5,607 INDUCED 6,220 1,578 230 8,028 INDIRECT 760 536 41 1,337 TOTAL 11,047 3,424 500 14,972 INCOME (1000$) DIRECT $647,520 $154,675 $21,282 $823,477 RE-SPENDING $760,124 $181,573 $24,983 $966,679 INDIRECT $30,651 $19,732 $1,462 $51,845 TOTAL $1,438,295 $355,979 $47,726 $1,842,000 REVENUE ($1000) $618,383 $179,207 $16,774 $814,364 LOCAL PURCHASES ($1000) $56,826 $43,868 $3,469 $104,163 STATE AND LOCAL TAXES ($1000) $130,885 $32,394 $4,343 $167,622 Totals may not add due to rounding 23 Direct Job Distribution - Fishing 24 Methodology for Recreational Boating Inventory of boats, by size and type at each POS marina, moored and transient: Shilshole Bell Harbor Fishermen's Terminal Harbor Island Interviews with tenants (yacht clubs, schools, restaurants, retail, etc.) Development of typical annual expenditures by type and for transient Development of jobs to sales ratios, revenue and income for suppliers of services from surveys 25 Economic Impacts of Recreational Boating Activity, 2007 SUMMARY TOTAL JOBS DIRECT JOBS 123 INDUCED 129 INDIRECT 100 TOTAL 352 INCOME ($1000) DIRECT $4,575 RE-SPENDING $14,161 INDIRECT $3,887 TOTAL $22,623 REVENUE ($1000) $13,831 POS REVENUE $(1000) $7,780 LOCAL PURCHASES ($1000) $7,845 STATE AND LOCAL TAXES ($1000) $2,059 Totals may not add due to rounding 26 Economic Impact of Cruise Operations at the Port of Seattle 27 Cruise Impact Model Number of vessel calls Size of vessel Type and length of cruise Homeport vs. Port of call Passenger levels Passenger characteristics Local purchases Local residents vs. out-of-town Pre and post cruise behavior 28 Cruise Methodology Two sectors of the economy impacted: Maritime Sector Services provided to vessels Interviews with cruise operators: Princess Cruises Holland America Line Norwegian Cruise Line Royal Caribbean Cruise Lines Celebrity Cruises Visitors Industry Sector Services provided to passengers: 600 passenger and crew surveys Crew survey 29 Consistent with Martin Associates Seattle-Tacoma model Economic Impact of 800,000 Passengers, 163 Homeport Calls and 24 Ports of Call in 2008 Cruise Only Airport Total Seaport and Airport JOBS DIRECT 1,675 280 1,955 INDUCED 953 172 1,125 INDIRECT 513 188 701 TOTAL 3,142 640 3,782 INCOME ($1,000) DIRECT $52,546 $11,601 $64,147 RE-SPENDING/LOCAL CONSUMPTION $75,999 $16,764 $92,764 INDIRECT $16,918 $3,134 $20,052 TOTAL INCOME $145,464 $31,498 $176,963 REVENUE($1,000) $199,243 $113,254 $312,497 LOCAL PURCHASES $24,670 $6,549 $31,220 TOTAL REVENUE $223,914 $119,803 $343,717 STATE/LOCAL TAX ($1,000) $13,237 $2,866 $16,104 30 Projected Impact for 2009 POS Cruise Season Total Cruise Airport Total Seaport and Airport JOBS DIRECT 1,876 332 2,208 INDUCED 1,072 204 1,276 INDIRECT 610 223 833 TOTAL 3,558 759 4,317 INCOME ($1,000) DIRECT $59,299 $13,755 $73,053 INDUCED $85,765 $19,877 $105,642 INDIRECT $20,128 $3,716 $23,844 TOTAL INCOME $165,192 $37,347 $202,540 REVENUE($1,000) $237,225 $134,283 $371,508 LOCAL PURCHASES $29,469 $7,765 $37,235 TOTAL REVENUE $266,694 $142,049 $408,743 STATE/LOCAL TAX ($1,000) $15,033 $3,399 $18,431 31 Real Estate Consists of Port of Seattle Seaport Tenants that are not included in cargo, fishing, recreational boating, or cruise analysis Based on a survey of 291 tenants not included in other types of Seaport or Airport activity Development of sensitivity model to assess future land uses Additive with other Seaport types of business 32 Real Estate Impacts REAL ESTATE JOBS DIRECT JOBS 1,392 INDUCED 689 INDIRECT 1,441 TOTAL 3,521 INCOME (1000$) DIRECT $79,575 RE-SPENDING $46,034 INDIRECT $46,689 TOTAL $172,298 REVENUE ($1000) $304,225 LOCAL PURCHASES ($1000) $69,759 STATE AND LOCAL TAXES ($1000) $15,680 Totals may not add due to rounding 33 Excludes activity counted in other types of Seaport business Direct Jobs by Type of Real Estate Tenant Activity 34 Impacts of Sea-Tac International Airport 35 2007 Economic Impacts: Passenger and Air Cargo Activity Sea-Tac Sea-Tac Total (On-Site) (Visitors) Jobs Direct 18,773 71,129 89,902 Induced 11,538 24,046 35,584 Indirect 4,723 8,161 12,884 Total 35,034 103,336 138,370 Wages/Salaries (Millions) Direct $778.1 $1,380.5 $2,158.7 RE-SPENDING $1,124.5 $858.7 $1,983.2 Indirect $210.2 $180.0 $390.2 Total $2,112.9 $2,419.2 $4,532.1 Business Revenue (Millions) $7,596.9 $5,541.6 $13,138.5 Local Purchases (Millions) $439.3 $345.3 $784.6 State/Local Taxes (Millions) $192.3 $220.1 $412.4 Aviation Taxes (Millions) $439.4 na $439.4 Totals may not add due to rounding 36 Distribution of Direct Jobs by Category, 2007 Job Category Direct Jobs Airline/Airport Services Sector Passenger Airlines 7,175 Catering 608 Skycaps 564 Government Agencies 1,256 Airport Administration 1,137 Retail Concessions 1,525 General Aviation/FBO's 1,403 Custodial 179 Parking 146 Subtotal 13,993 Freight Transportation Sector Freight Airlines/Couriers 912 Freight Forwarders 247 Subtotal 1,159 Passenger Ground Transporation Sector Rental Cars 821 Cabs/Buses/Limos/Vans 1,205 2,026 Construction/Consulting 1,595 37 Total 18,773 Distribution of Direct Jobs by Type of Activity, 2007 38 Distribution of Direct On-Site Jobs By Place of Residence PERCENT DIRECT JOBS Auburn 5.63% 1,058 Bellevue 1.41% 265 Bothell 0.46% 87 Burien 2.53% 475 Des Moines 3.03% 568 Enumclaw 0.70% 131 Federal Way 9.37% 1,759 Issaquah 1.10% 207 Kent 9.15% 1,717 Kirkland 0.66% 124 Mercer Island 0.50% 93 Normandy Park 0.93% 175 Redmond 0.61% 115 Renton 6.38% 1,197 Sea-Tac 6.61% 1,241 Seattle 17.69% 3,321 Tukwila 6.06% 1,138 Vashon 0.16% 31 Other King 3.18% 598 Edmonds 0.34% 64 Everett 0.50% 95 Mountlake Terrace 0.05% 9 Other Snohomish 1.03% 194 Tacoma 6.16% 1,155 Other Pierce 8.73% 1,639 Other WA 4.90% 920 Other US 2.11% 396 TOTAL 100.00% 18,773 39 7.6 Million Visitors Used Sea-Tac International Airport in 2007 40 Distribution of Local Visitors' Purchases - $5.5 Billion 900 passenger survey 41 Distribution of 71,129 Direct Visitor Industry Jobs 900 passenger survey 42 Changes In Impacts Since 2003 2007 2003 43 Structural Changes Personal Earnings Multiplier Specific waterborne transportation sector income multiplier now estimated by BEA 1.98 in 2003 to 4.095 in 2007 (higher earnings) Results in significant growth in induced jobs and re- spending impact Jobs to sales ratios have fallen, particularly in ship and boat yards Overall jobs to sales ratios have fallen for indirect jobs 44 Changes Since 2003 IMPACTS IMPACTS CHANGE JOBS DIRECT JOBS 111,317 115,835 (4,518) INDUCED 62,128 51,679 10,449 INDIRECT 20,540 27,319 (6,779) TOTAL 193,986 194,833 (848) INCOME (MILLIONS) DIRECT $3,761.5 $3,006.5 $755.0 RE-SPENDING $5,066.4 $3,004.9 $2,061.5 INDIRECT $699.8 $795.9 ($96.0) TOTAL $9,527.7 $6,807.2 $2,720.5 REVENUE (MILLIONS) $17,559.2 $12,121.3 $5,437.9 LOCAL PURCHASES (MILLIONS) $1,438.6 $1,502.5 ($63.9) STATE AND LOCAL TAXES (MILLIONS) $867.0 $631.8 $235.3 Totals may not add due to rounding Loss of direct jobs concentrated with air passengers impact on visitor industry 45 Operational Changes-- Seaport Tonnage Changes: Growth in containerized cargo and grain Operational Changes Increased share of intermodal cargo 65% in 2003 75% in 2007 Inclusion of barge based crew for Alaskan break bulk Terminal productivity remained nearly the same as did charges 46 Changes in Seaport Cargo Tonnage 2007 2003 Commodity 1,000 Metric 1,000 Metric Change Tons Tons Containerized Cargo 15,244.1 9,790.9 5,453.2 Grain 5,333.0 3,107.7 2,225.3 Breakbulk 116.6 117.9 (1.3) Petroleum 1,240.8 909.9 330.9 Liquid Bulk 46.7 46.8 (0.1) Total 21,981.2 13,973.3 8,008.0 Totals may not add due to rounding 47 Changes in POS Cargo Driven Impacts Port of Seattle Port of Seattle Cargo Operations Cargo Operations CHANGE 2007 2003 JOBS DIRECT 12,428 9,681 2,747 INDUCED 16,639 5,804 10,835 INDIRECT 4,224 2,707 1,517 TOTAL JOBS 33,291 18,192 15,099 PERSONAL INCOME (millions) DIRECT $637.4 $480.7 $157 RE-SPENDING $1,972.7 $471.5 $1,501 INDIRECT INCOME $186.7 $103.2 $84 TOTAL INCOME $2,796.8 $1,055.3 $1,741 BUSINESS REVENUE (millions) $3,060.4 $1,438.3 $1,622 LOCAL PURCHASES (millions) $438.8 $251.6 $187 STATE AND LOCAL TAXES (millions) $254.5 $104.5 $150 Totals may not add due to rounding 48 Changes in Direct Jobs By Job Category 2007 2003 CHANGE DIRECT JOBS DIRECT JOBS SURFACE TRANSPORTATION RAIL 1,621 1,080 541 TRUCK 1,931 1,535 396 MARITIME SERVICES TERMINAL EMPLOYEES 444 334 110 ILWU/DOCKWORKERS 1,038 776 262 TOWING 95 59 36 PILOTS 20 22 (2) AGENTS 166 136 30 SURVEYORS/CHANDLERS 492 161 331 FORWARDERS 422 281 140 WAREHOUSE 1,036 982 54 GOVERNMENT 1,770 1,010 760 SHIPYARDS/SHIPREPAIR 1,865 2,354 (489) BARGE 1,017 311 706 BUNKERS/MISCELLANEOUS 45 21 24 BANKING/INSURANCE/LAW 188 188 0 PORT OF SEATTLE 282 432 (151) TOTALS 12,428 9,681 2,747 Totals may not add due to rounding 49 Changes in Cruise Industry Impacts Increased number of cruise calls: 99 calls in 2003 187 calls in 2008 Passengers increased from: 345,000 in 2003 800,000 in 2007 50 Comparison of POS Cruise Activity 2008 2003 Change Impacts Impacts JOBS DIRECT 1,955 530 1,425 INDUCED 1,125 177 948 INDIRECT 701 365 337 TOTAL JOBS 3,782 1,072 2,710 PERSONAL INCOME (1,000) DIRECT $64,147.0 $13,665.7 $50,481.3 RE-SPENDING $92,763.5 $13,629.4 $79,134.1 INDIRECT INCOME $20,052.2 $11,635.7 $8,416.5 TOTAL INCOME $176,962.7 $38,930.8 $138,031.9 BUSINESS REVENUE (1,000) $312,497.0 $106,897.6 $205,599.5 LOCAL PURCHASES (1,000) $31,219.8 $17,039.0 $14,180.7 STATE AND LOCAL TAXES (1,000) $16,103.6 $3,815.2 $12,288.4 Totals may not add due to rounding 51 Changes in Fishing Impacts Decline in number of fishing fleet at Fishermen's Terminal: 370 ships in 2003 250 ships in 2007 Growth in factory trawlers and processors at T-91: 21 vessels in 2003 58 vessels in 2007 Increase in crew and average annual salary Decline in boatyard employment per dollar of expenditures Increase in income multiplier since 2003 induced jobs and re-spending impact 52 Comparison of POS Fishing Impacts 2007 2003 CHANGE FISHING FISHING JOBS DIRECT 5,607 5,877 (270) INDUCED 8,028 4,184 3,844 INDIRECT 1,337 1,774 (438) TOTAL JOBS 14,972 11,836 3,136 PERSONAL INCOME (millions) DIRECT $823,476.6 $392,243.3 $431,233.3 RE-SPENDING $966,679.1 $384,790.7 $581,888.5 INDIRECT $51,844.5 $68,990.0 ($17,145.4) TOTAL INCOME $1,842,000.2 $846,024.0 $995,976.3 BUSINESS REVENUE (millions) $814,363.6 $672,008.5 $142,355.1 LOCAL PURCHASES (millions) $104,163.2 $113,712.3 ($9,549.1) STATE AND LOCAL TAXES (millions) $167,622.0 $83,756.4 $83,865.6 Totals may not add due to rounding 53 Changes in Marina Impacts Decline in jobs at boat yards and reduced jobs per dollar of expenditures for boat repair operations Closing of several service providers and restaurants at POS marinas Decline in 195 vessels moored at POS marinas since 2003 54 Comparison of POS Marina Activity 2007 2003 CHANGE MARINAS MARINAS JOBS DIRECT 123 315 (192) INDUCED 129 164 (35) INDIRECT 100 209 (109) TOTAL JOBS 352 688 (336) PERSONAL INCOME (millions) DIRECT $4,575.4 $11,850.7 ($7,275.3) RE-SPENDNG $14,160.8 $11,625.5 $2,535.3 INDIRECT $3,886.6 $8,254.2 ($4,367.6) TOTAL INCOME $22,622.8 $31,730.4 ($9,107.6) BUSINESS REVENUE (millions) $13,831.4 $26,109.3 ($12,277.8) LOCAL PURCHASES (millions) $7,845.4 $11,962.7 ($4,117.3) STATE AND LOCAL TAXES (millions) $2,058.7 $3,141.3 ($1,082.6) 55 Totals may not add due to rounding Operational Changes - SeaTac Growth in passenger activity: 26.8 million in 2003 31.3 million in 2007 International passengers remained about the same as in 2003 Air cargo fell: 351,418 tons in 2003 319,013 tons in 2007 Post Office non-airport activity moved off-site Reduced construction expenditures $95.6 million in 2003 $56.3 million in 2007 56 Comparison of SeaTac Economic Impacts (On-site) 2007 2003 Change (On-Site) (On-Site) Jobs Direct 18,773 19,017 (244) Induced 11,538 10,205 1,333 Indirect 4,723 3,917 806 Total 35,034 33,139 1,895 Wages/Salaries (Millions) Direct $778.1 $762.4 $15.7 Re-Spending $1,124.5 $747.9 $376.6 Indirect $210.2 $166.5 $43.7 Total $2,112.9 $1,676.8 $436.1 Business Revenue (Millions) $7,596.9 $4,329.4 $3,267.5 POS Revenue Local Purchases (Millions) $439.3 $376.7 $62.6 State/Local Taxes (Millions) $192.3 $166.0 $26.3 Aviation Taxes (Millions) $439.4 $264.3 $175.1 Totals may not add due to rounding 57 Comparison of Direct On-site Jobs by Category Job Category Direct Jobs Direct Jobs Change 2007 2003 Airline/Airport Services Sector Passenger Airlines 7,175 7,594 (419) Catering 608 505 103 Skycaps 564 573 (9) Government Agencies 1,256 1,712 (456) Airport Administration 1,137 1,171 (34) Retail Concessions 1,525 1,137 388 General Aviation/FBO's 1,403 445 958 Custodial 179 215 (36) Parking 146 182 (36) Subtotal 13,993 13,534 459 Freight Transportation Sector Freight Airlines/Couriers 912 712 200 Freight Forwarders 247 259 (12) Subtotal 1,159 971 188 Passenger Ground Transporation Sector Rental Cars 821 874 (53) Cabs/Buses/Limos/Vans 1,205 906 299 2,026 1,780 246 Construction/Consulting 1,595 2,732 (1,137) 58 Total 18,773 19,017 (244) Changes in Air Passengers Air visitors increased from 7.1 million to 7. 6 million Growth in share of domestic business travelers 60% in 2007 compared to 30% in 2003 May reflect timing of surveys Change in composition of spending: Increased share of total purchases made on hotels vs. restaurants Hotels have a lower job per dollar of expenditure ratio than restaurants 59 Comparison of SeaTac Economic Impacts (Visitor Industry) Visitors Indsutry Visitors Industry Change 2007 2003 Jobs Direct 71,129 78,982 (7,853) Induced 24,046 29,926 (5,880) Indirect 8,161 18,127 (9,966) Total 103,336 127,035 (23,699) Wages/Salaries (Millions) Direct $1,380.5 $1,272 $109 Re-Spending $858.7 $1,248 ($389) Indirect $180.0 $425 ($245) Total $2,419.2 $2,945 ($526) Business Revenue (Millions) $5,541.6 $5,328 $214 Local Purchases (Millions) $345.3 $695 ($349) State/Local Taxes (Millions) $192.3 $249 ($57) 60
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