Airport – Key Economic Centre For Western Sydney
The key findings in an economic study paint Sydney Metropolitan Airport–Bankstown as an economic lynchpin for the Western Sydney region generating economic activity of $733 million each year.
Bankstown, New South Wales, Australia (PRunderground) August 21, 2008 - The key findings in an economic study paint Sydney Metropolitan Airport – Bankstown as an economic lynchpin for the Western Sydney region generating economic activity of $733 million each year.
The Economic Impact of Bankstown Airport, prepared by URS Australia for Sydney Metropolitan Airport – Bankstown shows the Airport delivers flow-on impacts to the broader economy of $1.3 billion.
“The Airport is a dynamic place and vital piece of infrastructure for the New South Wales economy. Many of our tenants and customers are reporting record levels of business activity. This is supported by the aircraft movement numbers making Bankstown, one of two busiest airports in Australia,” said Mr Kim Ellis, Chief Executive Officer, Sydney Metropolitan Airport – Bankstown.
“The solid business activity, coupled with continued investment in the Airport translates into an impressive direct and indirect economic impact for the local and broader Western Sydney economy.
“The most important sector is aircraft manufacturing, including aircraft maintenance. This sector is the dominant economic contributor at 57% of the total of the Airport’s economic impact.
Key findings from the study are:
The total economic impact of Bankstown Airport was estimated to:
• Generate $733 million in output
• Contribute $1.3 billion in gross output from all activities
• Provide $416 million in household income
• Employ 6,000 people (direct and indirect)
“Since privatisation the Airport has increased its investment levels, along with our customers to the value of over $30 million dollars. The value-added impact of these developments has delivered $67.14 million to the economy, added $26.94 to household income and 162 additional jobs have been created.
“The Airport and our tenants have additional developments of an estimated value of $200 million planned for the Airport; the multiplier effect will be quite substantial to the local and wider economies.
“We consider the results cement Sydney Metropolitan Airport – Bankstown as one of Australia’s significant aerospace hubs and business centres and with future developments the outlook is positive for the Airport and those businesses and households who rely upon it,” concluded Mr Ellis.
A Fact Sheet on the study is available on request.
About Sydney’s Metropolitan Airport
Bankstown Airport is located in the centre of metropolitan Sydney, in close proximity to the Sydney Central Business District and Western Sydney business hubs. Bankstown Airport is an exceptional business location with a thriving business park as well as operating one of Australia’s premier general aviation airports. Bankstown Airport is a major centre of economic activity generating employment for 6,000 people, it makes a significant contribution to the local economy.
For more information visit www.bankstownairport.com.au.
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CONTACT INFORMATION:
Contact Name: Meredith Laverty
E-mail Address: meredithlaverty@yahoo.com.au
Phone Number: +61414-523-060
URL: http://www.bankstownairport.com.au
Please direct all questions to the person listed under “contact information” above. PRunderground does not represent this company, we are simply the distributor of this release.
