9b Airport Economic Impact presentation
Item No. 2x supp 9b . Meeting Date: 01/30/2018 Sea-Tac International Airport Economic Impacts PORT OF SEATTLE Port Commission Public Meeting January 30, 2018 1/12/2018 DISCUSSION DRAFT 1 AGENDA Sea-Tac International Airport Economic Impacts Direct Impacts of Sea-Tac Economic Impacts of Sea-Tac Community Impacts January 30, 20182 2 DIRECT IMPACTS OF SEA-TAC Economic Impacts of Sea-Tac International Airport, 2017 Business Compensation Wages Category Jobs Revenue (incl. Benefits) (mils 2017 $) (mils 2017 $) (mils 2017 $) On-site Airport Activity 19,100 $5,574.8 $1,109.8 $1,403.0 Passenger Airlines and Services 6,700 $2,386.3 $399.4 $503.2 Airport Services and Vendors 7,500 $1,575.4 $412.5 $519.4 Ground Transportation* 600 $318.8 $25.2 $31.5 Contract Const. and Consulting 2,000 $498.3 $124.1 $153.7 Air Cargo 2,300 $796.0 $148.6 $195.1 Visitor Impacts 68,200 $5,906.5 $1,878.0 $2,247.8 Total 87,300 $11,481.3 $2,987.8 $3,650.8 Source: Washington State Employment Security Department, 2017; Washington State Office of Financial Management, 2017; U.S. Bureau of Labor Statistics, 2017; Port of Seattle, 2017; Community Attributes Inc., 2017. *The ground transportation direct estimates only include the impact of car rental activities as estimated from the 2017 Car Rental Gross Sales data. The impact of other forms of ground transportation to and from the Airport such as cabs are captured as part of the Visitor Impacts. January 30, 2018 3 ECONOMIC IMPACTS OF SEA-TAC, WASHINGTON Economic Impacts of Sea-Tac International Airport, 2017 On-site Airport Visitors Total Activity Jobs 44,000 107,400 151,400 Total Compensation (mils 2017 $) $2,760.2 $4,339.3 $7,099.5 Business Revenue (mils 2017 $) $10,120.5 $12,357.5 $22,477.9 Source: Washington State Employment Security Department, 2017; Washington State Office of Financial Management, 2017; U.S. Bureau of Labor Statistics, 2017; Port of Seattle, 2017; Community Attributes Inc., 2017. Sea-Tac International Airport's on-site activities support an additional 1.3 jobs for every direct job. Overall, the airport supports a total of 1.7 jobs per direct job throughout the Washington economy. Every dollar of direct output of Sea-Tac's onsite activities supports an additional $0.82 of output throughout Washington's economy. In total every dollar of output of Sea-Tac International Airport supports a total of $1.96 throughout the Washington economy. January 30, 2018 4 AIRPORT WORKERS BY CITY OF RESIDENCE, 2017 Community Impacts Source: Port of Seattle, 2017; Community Attributes Inc., 2017. January 30, 2018 5 AIRPORT EMPLOYMENT AND LABOR FORCE BY CITY Community Impacts Estimated Airport Labor Force Share of Labor City Employment (16 years +) Force Seattle 1,720 418,400 0.4% Seattle, Federal Federal Way 1,500 49,640 3.0% Way, Kent, SeaTac Kent 1,420 65,660 2.2% and Tukwila are SeaTac 1,050 14,850 7.1% home to more than Tukwila 1,030 10,730 9.6% 1,000 airport Tacoma 970 106,250 0.9% employees. Des Moines 740 16,670 4.4% Renton 580 55,630 1.0% Among cities with more than 100 Burien 540 26,040 2.1% airport employees, Auburn 530 38,200 1.4% these employees Lakewood 270 29,020 0.9% make up more than Bellevue 210 74,660 0.3% 4% of the total Puyallup 160 20,770 0.8% resident labor force Fife 150 5,440 2.8% in Tukwila, SeaTac Normandy Park 100 3,710 2.7% and Des Moines. Shoreline 100 30,990 0.3% Source: Port of Seattle, 2017; American Community Survey, 2017; Community Attributes, 2017. January 30, 2018 6 SEATAC Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017.. January 30, 2018 7 BURIEN Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017. January 30, 2018 8 DES MOINES Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017.. January 30, 2018 9 NORMANDY PARK Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017. January 30, 2018 10 TUKWILA Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017. January 30, 2018 11 FEDERAL WAY Economic Activity Driven by Sea-Tac International Airport, 2017 Sources: Port of Seattle, 2017; Puget Sound Regional Council, 2017; Washington State Office of Financial Management, 2017; U.S. Census Bureau, 2017; Washington State Employment Security Department, 2017; U.S. Bureau of Economic Analysis, 2017; Community Attributes, 2017.. January 30, 2018 12 QUESTIONS? January 30, 2018
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