Thursday, August 2, 2012

Helping Local Business Take-Off

What does the Long Beach Airport (LGB) mean to you?

An Airport creates jobs and income, is as a hub for freight and potential business investments, and serves as a gateway for passengers to travel around the world. Your Airport can be considered one of Long Beach’s principal resources because what the Airport does best is serve people in the community. It can be a key factor in the decision of potential businesses -- who provide valuable local employment -- to locate in an area.

At a time when jobs are first on the minds of many, an Airport is the first impression a prospective industry official has when landing in Long Beach. LGB becomes the front door to the area and the welcoming committee to the businesses Long Beach is seeking to attract.

Recently, California State Long Beach Economics Professors Joseph P Magaddino, Ph.D. and Lisa M. Grobar, Ph.D studied the economic impacts of LGB on the region. Using the data from 2011, the study found that the Long Beach Airport Area Complex houses approximately 5 percent of all Long Beach business establishments and accounts for approximately 9 percent of all jobs within the city. Over the entire region, the Airport Area Complex generates 43,000 jobs, the equivalent of more than 10 billion in valued output.

The study also stated that business in our area generate an annual payroll of $1.4 billion and total regional earnings of more than $2.6 billion. The average annual wage for the airport area is more than $78,000 -- 1.5 times as large as the median income in LA County.

The complex is 1,166 acres of private business. Four fixed-base operators and numerous aviation service companies alone are located at the airport. These firms provide fuel sales, hangars for movie production, tiedown areas, sales and service for aircraft manufacturers, flight and ground school instruction, and air taxi and charter service. Several non-aviation-related businesses are also located on airport property, including hotels, restaurants, and a golf course.

The Airport is clearly an important component of the overall vitality of the City’s economy and the future is looking even brighter. The Airport is exploring possibilities that the market will support enhanced uses of the Airport and the adjacent land within the current framework of the Airport Noise Compatibility Ordinance, ensuring a quality of life and economic vitality for the citizens of Long Beach.

The notion that LGB is a convenient and efficient place to travel in turn creates an environment in which business can take off. As a citizen of this great city, I am committed to the progress and service your Airport provides. LGB has a tremendous opportunity to generate more business to help the economy not only stabilize but thrive. We want to make Long Beach and the region a healthy place for jobs and a great place to work.

Lastly, LGB is a tax generator rather than a tax user. The Airport does not receive local tax dollars toward its operation, but is financed entirely by revenues from lease, rental and user fees. In 2011, the Airport generated $32.6 million in fees and revenues. The majority of these fees were related to parking, fixed-base operators, car rentals, and landing fees.

Travel with us to get to one of our 13 destinations and take every opportunity to fly home to LGB. We always look forward to welcoming you back. Plus, we’re a friendly place, so take a tour and have lunch while watching the dedicated staff at your Airport work for you.

1 comment:

  1. This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here. 

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