Airport contributes over $1B to Hunter economy
Newcastle Airport’s latest economic impact study has confirmed the Airport’s role as one of the region’s key economic and employment hubs, contributing $1.19 billion annually to the Hunter’s economy. The study measured the Airport’s economic and social benefits to the Hunter region, updating findings of the previous study undertaken in 2011.
The study concluded that Newcastle Airport facilitates:
• Jobs - Direct and indirect employment of 3,346 jobs, including 654 direct jobs on the airport precinct.
• Economic activity - Direct and indirect contribution of $1.19 billion to the local economy.
In the past decade Newcastle Airport’s contribution to the local economy has increased from $233.1 million annually in 2005 to the $1.19 billion annually today. This significant increase in contribution is a result of increased air services, increased employment on and around the airport site, and numerous major construction projects completed on the airport site in the past decade.
More than a million passengers pass through the doors of the Airport each year, and Newcastle Airport’s CEO, Paul Hughes commented that the study highlights the importance of the Airport to the region and the significance of Newcastle Airport as a transport hub. “The contribution of the Airport is widely recognised; however reports such as this highlight the significant flow-on effects that otherwise would remain invisible to the wider community” he said.
The Airport’s support to the tourism industry is also significant, contributing $305 million annually and supporting more than 1,750 jobs in this industry. In addition, the current construction program onsite at the Airport is contributing $33 million in economic value and is generating 106 jobs.